Accounts Receivable

1098-T

2018 1098-T’s Will be available by January 31st, 2019

When the 1098-T is available, you may access it through your OASIS under Student -> Tuition & Fees -> Tax Notification. From there, you can use your browser’s print function to print the form.

Depending on your income (or your family’s income, if you are a dependent), whether you were considered full or half-time enrolled, and the amount of your qualified educational expenses for the year, you may be eligible for a federal education tax credit. (You can find detailed information about claiming education tax credits in IRS Publication 970, page 9.)

The dollar amounts reported on your Form 1098-T may assist you in completing IRS Form 8863 – the form used for calculating the education tax credits that a taxpayer may claim as part of your tax return.

The University of South Florida reports (Box 1) the total amounts paid for qualified tuition and related expenses from all sources during the calendar year, less any reimbursements or refunds. This does not include payments received for Meal Plan, Housing, Transportation/Parking or Student Health fees.

The University of South Florida is unable to provide you with individual tax advice, but should you have questions, you should seek the counsel of an informed tax preparer or adviser.

SPECIAL INFORMATION FOR Tax Year 2018

In previous years, your 1098-T included a figure in Box 2 that represented the qualified tuition and related expenses (QTRE) we billed to your student account for the calendar (tax) year. Due to a change to institutional reporting requirements under federal law, beginning with tax year 2018, we will report Box 1 which is the amount of QTRE paid during the 2018 tax year.

The amount reported in Box 1 is the total amount of payments received less any reimbursements or refunds made during the calendar year that relate to the payments received for qualified tuition and related expenses during the same calendar year. The amount reported is not reduced by scholarships and grants reported in box 5. The amount reported will not include amounts billed on a previous tax year 1098-T.