How do I obtain a copy of my 1098-T?
The 2017 1098-T’s have been prepared and issued by our partner, ECSI. To view and/or print a copy, please visit https://heartland.ecsi.net and follow the directions. They were mailed to the address we have on file on January 17, 2018.
Why am I receiving a 1098-T statement?
The 1098-T is a statement of qualified tuition and fees charged to students by Ohio Wesleyan. The statement is provided both to students and the IRS. As an eligible educational institution, the University is required to provide 1098-T Tuition Statements to students enrolled during the calendar year. This form is intended to assist in calculating eligibility for income tax credits. See IRS Publication 970 (https://www.irs.gov/pub/irs-pdf/p970.pdf) for details. The 1098-T tax form reports the qualified tuition and related expenses billed to students by Ohio Wesleyan during the applicable calendar year. In addition to amounts billed, the statement also contains the amount of scholarships and grants awarded to the student. The IRS allows colleges and universities to report payments received (Box 1) or amounts billed (Box 2) for qualified educational expenses but not both. Since the amount of qualified tuition and fees can be more difficult for families to calculate, Ohio Wesleyan, like most universities, calculates this for you and reports it in Box 2 instead of reporting payments received.
What time period does my 2017 1098-T cover? Are there any timing differences between what is being reported?
Information on the 1098-T is reported for each calendar year, January 1 through December 31. The IRS requires all taxpayers and universities to report this information on this calendar year basis which is different than the academic year (August – May). The 1098-T summarizes qualified tuition and fees in Box 2 and Grants and Scholarships in Box 5 that have been posted to a student’s account during the calendar year. Reporting activity on a calendar year basis creates a timing difference on the student's 1098-T that is most apparent during the first and fourth year of attendance. This difference is caused by the spring semester activity being posted in different calendar years; the tuition is posted in November, approximately two months prior to the beginning of the term, and the associated scholarships and grants are posted in January of the following year, as required by Federal regulations. The IRS requires institutions to report on form 1098-T in this manner.
What does each box on the 1098-T represent?
- Box 1. Payments Received for Qualified Tuition and Related Expenses: This box will be blank because Ohio Wesleyan has elected to report amounts billed.
- Box 2. Amounts Billed for Qualified Tuition and Related Expenses: This box includes Tuition, Student Activity Fees, and Course Fees.
- Box 3. Checkbox for Change of Reporting Method: This box will only be checked if Ohio Wesleyan changes the reporting method (from amounts billed to payments received).
- Box 4. Adjustments Mode for a Prior Year: This box is used to report changes in qualified charges posted to your account previously reported in prior years.
- Box 5. Scholarships or Grants. This box reports the amount of scholarships or grants posted to your account applicable to the calendar year.
- Box 6. Adjustments to Scholarships or Grants fora Prior Year: This box is used to report reductions in scholarships or grants previously reported in prior years.
- Box 7. Checkbox for Amounts for on Academic Period Beginning in January through March of the Following Calendar Year: This box will be checked if qualified tuition and related expenses are billed in November but classes begin in January.
- Box 8. Check if at Least Half-Time Student: This box will be checked if the student was at least a half-time student during any academic period during the calendar year.
- Box 9. Check if a Graduate Student: This box will be checked if the student was a graduate student; if the student was enrolled in a program or programs leading to a graduate –level degree, graduate level certificate, or other recognized graduate level educational credential.
- Box 10. Insurance Contract Reimbursement or Refunds: This box will be blank.
Who can I contact if I have further questions?
Ohio Wesleyan cannot provide tax advice. Please contact your tax professional if you have tax-related questions. If you have a general question regarding information on your 1098-T statement please email us at: firstname.lastname@example.org. Remember, you can view and print your 1098-T at heartland.ecsi.net available 24/7.
Hayley Walls, Student Account Analyst
Steve Schissler, Bursar