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Form 1098T

FAQs

What is a 1098-T and why do I need one?

The College sends them out to assist you in preparing your federal income tax return and reports the information to the Internal Revenue Service. The purpose is to assist you in determining whether you are eligible for an education tax credit using IRS Form 8863. Your tax preparer or the IRS can best advise you in the utilization of this form when preparing your taxes. You may also read IRS Publication 970 at www.irs.gov to determine if you qualify for an education tax credit.

 

This form is for informational purposes only. It is NOT to be filed with your tax return. It is NOT to report scholarship income to the IRS.

 

What information will be provided on my 1098-T?

Your billed tuition and qualified fees (Box 2). Your scholarships or grants administered by the College (Box 5). It also indicates half-time or greater enrollment.

 

Why are there no amounts in Box 1 when I made payments for tuition and fees?

Per IRS regulations, institutions may choose to report payments received in Box 1 or amounts billed for Tuition and Fees in Box 2. Hampshire College reports the amounts billed in Box 2.

 

Where can I find a record of the payments I made?

Your monthly billing statements contain payments made and are available online. Students and E-billing users may access your billing statements by logging onto the Hub.  

 

I attended last Spring and graduated in May. Why didn’t I receive a 1098-T?

The College bills students in December for the spring semester. Therefore, you do not have a 1098-T Form for this year. Your spring tuition and fees were reported on the prior year 1098-T, which you can access on The Hub.

 

Where can I find my 1098-T online?

Students must log onto The Hub at http://thehub.hampshire.edu to view and print their 1098-T Forms. Click on “Students” on the menu on the right. Under the Financial Info heading, click on “View My 1098-T Forms.”  Your 1098T statements for all applicable years will be listed by year. 

 

When will my 1098-T be mailed to me?

If you did not consent for electronic delivery only, your 1098-T form will be mailed at the end of January. Each form must be postmarked (if mailed) by January 31. The forms are mailed to your home address on file. To verify or update your mailing address, please contact central records.

 

I’m a parent. Can I access my student’s 1098-T form on the Hub?

Students must log onto The Hub to view and print their 1098-T Forms. The student is responsible for providing information to other parties in accordance with FERPA (Family Education Right to Privacy Act).

 

Can you fax a copy of my 1098-T to my accountant? 

The fastest way to obtain your 1098-T Form is to log onto The Hub at http://thehub.hampshire.edu. Click on “Students” on the menu on the right. Under the Financial Info heading, click on “View My 1098-T Forms.”  Your 1098T statements for all applicable years will be listed by year. You can print a copy for you to fax to your accountant.

 

How does this affect my taxes/how much can I deduct?

Hampshire College cannot offer tax advice. Consult your accountant, tax preparer, or the IRS (www.irs.gov) on which amounts you can include for tax purposes.

 

Where on my tax form do I put this information?

Your tax preparer or the IRS can best advise you in the utilization of this form when preparing your taxes. You may also read IRS Publication 970 at www.irs.gov to determine if you qualify for an education credit.

 

The Social Security number is missing or incorrect on my 1098-T Form.  Whom should I contact?

You will need to bring your Social Security card to central records so they can update the information. Please contact student accounts once the information is updated, and our office will update your 1098-T which will be available online to print. The deadline for updating the information for the current tax year is March 15. 

 

I lost my 1098-T form. Where can I get another one?

Online through The Hub. Students must log onto The Hub at http://thehub.hampshire.edu. Click on “Students” on the menu on the right. Under the Financial Info heading, click on “View My 1098-T Forms.” Your 1098T statements for all applicable years will be listed by year. 

 

How can I provide consent for electronic delivery only?

Students must log onto The Hub at http://thehub.hampshire.edu. Click on “Students” on the menu on the right. Under the Financial Info heading, click on “1098 Electronic Consent.” Select the electronic delivery only method (option 1) and click “Submit.” 

 

 

 

 

 

Contact Us

Student Accounts
Blair Hall
Hampshire College
893 West Street
Amherst, MA 01002
413.559.6982
Fax 413.559.6845
studentaccounts@hampshire.edu
 

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