1098-T Tuition Statement Information
Form 1098-T is an IRS (Internal Revenue Service) form provided to eligible matriculating students who enroll in classes in a degree-seeking program at Stevens Institute of Technology. The 1098-T form provides information regarding the payments made during the calendar year towards qualified tuition and related expenses (QTRE). To learn more about this form please consult IRS Publication 970, Tax Benefits for Education.
1098-T Tuition Statement FAQs
Form 1098-T supplies a portion of the information needed by taxpayers to claim tax credits. This form will be provided electronically to the student by January 31 of each year. 2021 Form 1098-T can be accessed through our partner vendor TSC1099 accessible to students (via Workday Student) and their Authorized Party* (via Authorized Party Portal). The student will receive an email when the forms are available.
In accordance with the IRS regulations, Stevens will issue the 1098-T only if all of the below conditions are met. During the respective calendar year, the student should have been:
Charges and Payments
A US citizen or permanent resident
An International student with a valid Taxpayer Identification Number (ITIN), and have completed and submitted a W-9S form to the Office of Student Accounts.
Matriculated and enrolled in a degree seeking program at Stevens
Made qualified payments towards QTRE billed during the same calendar year
Billed for and made payments towards qualified charges.
Not covered by any third party billing arrangements
Not covered in full by scholarships or grants.
DEMOGRAPHIC & ENROLLMENT DATA:
Name, taxpayer identification number, permanent address, whether you were a graduate student during the calendar year, whether you were at least a half-time student during the calendar year.
BOX 1 - Payments received for qualified tuition and related expenses: Payments from all sources made from January 1 through December 31 of the current tax year towards outstanding tuition and mandatory fees. Payments include student payments, loans, credit balances from previous terms, grants and scholarships.
BOX 4 - Adjustments made for a prior year: Adjustments made to qualified tuition and related expenses reported in a prior year.
BOX 5 - Scholarships or grants: Scholarships or grants applied to the student's account from January 1 through December 31 of the current tax year.
BOX 6 - Adjustments to scholarships or grants for a prior year: – Adjustments made to scholarships or grants reported in a prior year.
If you are eligible to receive a 1098-T, payments from all sources made towards qualified tuition and related expenses (QTRE) billed in the current tax year (January 1- December 31) will be reported in Box 1 of the 1098-T. The first step in calculating Box 1 is determining QTRE. Per IRS guidelines, the following expenses qualify as QTRE:
tuition, general service fee, student activity fee, lab fees
The following do not qualify, even if you are required to pay them to attend college:
room & board, insurance, student health insurance, and transportation expenses
Payments from all sources, including scholarships and grants that were applied towards qualified tuition and related expenses, will be included in Box 1 of the 1098-T.
Stevens is required to collect your correct SSN/ITIN to file 1098-T tax form with the IRS. Annual reviews will be done by the Office of Student Accounts to check for student SSN/ITIN. Please note that you can be fined $50 by the IRS if you do have a SSN/ITIN and do not respond to our request to provide your SSN/ITIN.
Students must drop off, mail or fax a copy of their signed SSN card and W-9S form to the following address:
Stevens Institute of TechnologyOffice of Student AccountsHowe Center LobbyCastle Point on HudsonHoboken NJ 07030-59913Fax: (201) 216-8050
Most international students are not eligible to claim education tax credits with the U.S. Internal Revenue Service. For more information about eligibility, see IRS Publication 970. Stevens cannot provide tax advice. For additional information, please contact your tax adviser or the IRS.
International students who have a social security number or tax id number can request a 1098-T by dropping off a copy of their signed SSN card or ITIN approval letter and W-9S to the Office of Student Accounts before March 1.
TL11A Canadian Tax Form
Students can provide the TL11A Canadian Tax form to the Office of Student Accounts, and Part 1 - Educational Institution's Certification will be completed and signed. This form can be found on the Canada Revenue Agency website.
Stevens Institute of Technology's tax Id number is 22-1487354.