Allegheny College is not permitted to give tax advice. We can only explain the details of the amounts that are reported on your tax form. Please speak to your qualified tax advisor for advice on how to report the information that you receive.
Student 1098T Tax Form
The IRS Form 1098T is filed by educational institutions to report information to the Internal Revenue Service in accordance with the Taxpayer Relief Act of 1997. Section 6050S of the Internal Revenue Code, as enacted by the Taxpayer Relief Act of 1997, requires institutions to report amounts to the IRS pertaining to payments for Qualified Tuition and Related Expenses (QTRE), as well as awarded Scholarships and Grants.
Allegheny College is required to provide a 1098T informational form to each student who has paid toward Qualified Tuition and Related Expenses and/or received Scholarships and/or Grants in a given tax year (January 1 through December 31). The form is delivered to be mailed by January 31st of each year to the student’s permanent address on record unless the student consents to electronic transmission only. Students may access Self Service to obtain an electronic copy of their form by choosing Financial Information, then Tax Information then select 1098T. Copies of forms cannot be released by Allegheny College to anyone other than the student.
Allegheny College staff are not authorized to provide tax advice and can only answer questions related to how Form 1098T was prepared. Questions regarding your taxes or eligibility should be directed to your personal tax advisor or the IRS Taxpayer Assistance line at 1-800-829-1040. More 1098T information is also available on the IRS website.
Where These Items are Reported on the Form:
Box 1 – payments received for Qualified Tuition and Related Expenses from all sources during the tax year less any reimbursements or refunds, up to the total amount billed in that same tax year. This box may also contain a carryover from the prior tax year allowing the student to claim all payments above the capped amount of Qualified Tuition and Related Expenses.
Box 5 – the total amount of Scholarships and Grants posted to the student account during the tax year toward total cost of attendance.
Answers to FAQ’s:
- Spring Tuition and Qualified Fees are billed in December of the tax year prior to attendance; Scholarships and/or Grants are posted during the spring semester of the same tax year as attendance.
- May Graduates may not have the full amount of payments in Box 1 because no tuition has been billed in the tax year but, can have an amount in Box 5 reporting scholarships and/or grants received in the tax year.
- May graduates without any payments, scholarship or grant awards in the tax year of their final semester may not receive a 1098T.
- First year and other new students may have a larger amount in Box 1 for Fall and Spring Qualified Tuition and Fees billed in the tax year and a smaller amount in Box 5 the first year for only Fall Scholarships and/or Grants posting in that same tax year.
Box 1 – Payments Received for Tuition and Fees
|Fall||July – August|
|Spring (late registration)||January|
|Summer||May – August|
Box 5 – Scholarships & Grants (Financial Aid)
|Fall||September – October|
Students can reconcile totals of the 1098T box amounts by viewing their account activity or billing statement on the TMS-Student Account Center. Log into Self Service and select the Financial Information then Student Finance and click the TMS/Nelnet Student Account Center link to access the site.
Allegheny is required to mail the 1099-MISC tax form to all persons who qualify no later than January 31 of each year. We are required to report amounts to the IRS pertaining to gross income dispersed that cumulatively exceed $600 within the tax year.
Gross income includes:
- Off-campus Expenses
W-9 Tax Form
The W-9 form is the Request for Taxpayer Identification Number and Certification. All vendors and persons who wish to receive a payment from the College are required to submit a W-9 Tax form.
This form is required for tax purposes by the government. Invoices cannot be paid until the college has the Form W-9 on file.
The W-9 shows the complete business name and any “Does Business As” associated. It shows the type of business and tax implications as well as confirms whether or not amounts meet requirements to be added to a 1099 tax form.
Please complete a W-9 tax form and send back to us via email (firstname.lastname@example.org), fax (814-337-6602) or mail (Allegheny College, Accounts Payable, 520 North Main St. Box 4, Meadville, PA 16335).