1098-T Educational Tax Credit

1098-T Educational Tax Credit

In accordance with IRS regulations, Youngstown State University has made available Form 1098-T. Form 1098-T is provided to assist you in determining your potential education tax credit. If it is important for your parent or others to know this information, and it is your choice for them to know, please forward this email to them. Not all students will receive a 1098-T. Please see the FAQ's at the bottom of this page for further information.

* If you used the "opt in" to the electronic feature your 1098-T can be obtained by:
1. Log in by going to: ysu.edu/viewmybill and scroll to the bottom under "Statements".
2. Click "View" on the latest 1098-T statement link.
3. Select the gear icon to the right of the 1098-T Tax Statement year, and click on the “View” button.

Authorized Users:

The following link must be used by Authorized Users (i.e. parent or guardian) who want to view their student’s 1098-T.
Please note that Authorized Users must be set up online by the student under the “My Profile Setup” heading in the Bill and Payment Suite.

* If you did not opt into receiving the form electronically the form is being mailed to your mailing address on file.

Please note that it is the student’s responsibility to make sure the name and social security number on the 1098-T is the same as the information on file with the IRS. If your name is not correct you can request a change by filling out the name change form* and following the directions on the form:

Per IRS regulations, an institution may elect to report either report payments received for qualified tuition and expenses in Box 1 or the amount that each student was billed in Box 2. YSU reports amounts billed for qualified tuition and related expenses in Box 2 and does not use Box 1. In Box 5, YSU is required to report the amount of any scholarships and grants which were processed as payments on your account.

Answers to some Form 1098-T FAQ’s are provided on the Bursar website www.ysu.edu/bursar and below. Specific questions regarding amounts reported in Box 1 or Box 5 on Form 1098-T may be referred to the Office of University Bursar (330) 941-3142. Please note that YSU staff is not permitted to provide tax advice.

For additional information on educational tax benefits, please visit the IRS website (link is external).

Please note that this link has been provided for informational purposes only and is not intended as tax advice. To determine how this information may apply to your individual circumstance, please contact your tax professional.

Frequently Asked Questions (FAQ’S) Form 1098-T

What are education tax credits?

Various types of tax credits are available, including Lifetime Learning Credit and Hope Credit (to be renamed American Opportunity Tax Credit beginning in tax year 2009). Unfortunately, the Bursar office is not permitted to offer tax advice to students or parents. For information regarding your potential tax credit eligibility, please contact an income tax professional or visit the following IRS website: Tax Benefits for Education: Information Center (link is external)

What is a 1098-T form?

The 1098-T form is an IRS form that is provided by the University to assist students and parents in determining whether or not they might be eligible for education tax credits. When will I receive my 1098-T form? For the students who elected to receive the form electronically, it is available now. Please go to www.ysu.edu/viewmybill, and follow the instructions listed above. All others will be mailed by January 31, 2018. Please make sure that your address information is current and correct.

Why didn’t I receive my 1098-T form?

If you haven’t received your 1098-T form by the 2nd day of February, it is possible that you may fall into an “exception” group for which the University is not required to provide this form. Such “exceptions” include students whose qualified tuition and related expenses are entirely waived or paid entirely with scholarships and grants, are paid entirely by a governmental entity, such as the Department of Veterans Affairs, or who are enrolled in courses for which academic credit is not offered (for example, Educational Outreach courses). If you do not fall into one of these “exception” categories, and believe that you are entitled to receive a 1098-T form, please check the ysu.edu/viewmybill,( instructions provided above) to verify that a 1098-T was issued for you. Also check your current address; if you have moved and not updated your address information your 1098-T form may have been mailed to the wrong address. You may also reprint the form from this website.

Can I obtain a duplicate copy of my 1098-T form?

Yes, you can if you "opt in" to receiving the form electronically, You may view and/or print your 1098-T form (for the current or prior year) via the ysu.edu/viewmybill instructions listed above. If a 1098-T form does not exist on the site, it is possible that you may fall into one of several “exception” groups for which the University is not required to provide a 1098-T. These include, but are not limited to, students whose qualified tuition and related expenses are entirely waived or paid entirely with scholarships and grants or a governmental entity (such as the Department of Veterans Affairs), or who are enrolled in courses for which academic credit is not offered, such as Outreach courses.