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.
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 on-line?
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
What amounts are included in Box 2 “Amounts billed for qualified tuition and related expense”?
This represents the amounts billed during the calendar year for qualified tuition and related expenses.
What amounts are included in Box 5 , “Scholarship and grants”?
This represents the total of all scholarships or grants received and processed for the calendar year.
Why doesn't my 1098-T match what I paid/received?
For 1098-T purposes, The College of Wooster reports qualified transactions in the
calendar year when amounts were billed and not when amounts were paid, received or
I graduated in the spring. Why didn’t I receive a 1098-T?
The College of Wooster reports the amount of tuition billed and grants/scholarships
received to the IRS. Graduates were billed in July and December of the previous reporting
year. There is nothing to report in the calendar year graduated in.
I graduated in the spring and received a 1098-T that only shows that I received grants/scholarships. Why is there no amount shown for tuition?
Scholarships/grants must be reported in the calendar year received. Tuition was billed
in July and December in the previous year and reflected on the prior year 1098-T.
I made payments to the College. Why are they are not reflected on my 1098-T form in box 1?
The College of Wooster only reports tuition billed and grants/scholarships received.
Payments are not reported to the IRS by the College.
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.
I know that I paid more than the amount listed as tuition in box 2. Why is this amount different?
The amount listed in box 2 does not include the amounts billed for room and meals. These amounts are not reported to the IRS.