1098T FAQ's

What reporting changes occurred with Form 1098-T?

In previous years, The College of Wooster reported amounts in Box 2 of Form 1098-T. Box 2 included amounts billed to your student account for qualified tuition and related expenses. Due to a change in institutional reporting requirements under federal law, beginning with tax year 2018, the College will report Box 1, the amount of qualified tuition and related expenses you paid during the calendar year.

Can the College of Wooster advise me how to use the 1098-T Form in completing my taxes?

The College of Wooster cannot determine if you qualify for a tax credit or any allowable tuition and fees deduction. The financial data provided is to assist you in computing amounts that may be eligible for certain tax benefits. Students and parents should contact their personal tax advisor for assistance.

What is Form 1098-T?

IRS Form 1098-T, Tuition Statement, contains information to assist the Internal Revenue Service (IRS) and you in determining if you are eligible to claim educational related tax credits. For more information on these credits, see IRS Publication 970, or consult your own tax advisor.

How do I get my 1098-T Form electronically?

You can sign up to receive your 1098-T Form electronically by logging into ScotWeb and selecting the 1098-T Electronic Consent link.

How will I know when my 1098-T Form is available to view/print online?

The Business Office will send email notification to your Wooster email address when the form is available.

I consented to get my 1098-T Form electronically, where is it?

To retrieve your 1098-T online:

  • Log into ScotWeb
  • Select View My 1098-T Form
  • Choose the year and select Click to Display 1098-T Form

How much can I claim on my taxes? How do I know what to put on my tax return?

The College of Wooster can't give you tax advice. We comply with Federal regulations by annually providing an IRS Form 1098-T to eligible students in late January. Please consult your tax advisor for more information about your particular situation. Staff at The College of Wooster Business Office cannot assist you in determining the amount you can claim for a tax credit.

Am I required to submit my 1098-T to the IRS?

No. Form 1098-T is for informational purposes only and does not need to be submitted to the IRS by the student.

I made payments in December and January for spring semester. Can I claim those payments in the same year?

The College of Wooster cannot give any tax advice. Please contact your tax accountant.