Changes to Student Tax Forms for 2018

Publication Date
1/15/2019

For each calendar year that a student is enrolled at MIT, Student Financial Services sends a tuition statement— tax Form 1098-T—which reports a student’s qualified tuition and related expenses (QTRE).

Due to an Internal Revenue Service (IRS) change in reporting requirements for educational institutions, the information MIT provides in Form 1098-T for calendar year 2018 will be different than in past years. Now, instead of reporting on QTRE billed to student accounts for the calendar year (in Box 2), MIT will report the amount of QTRE paid during the calendar year (in Box 1).

Depending on a student’s income (or family’s income, if a dependent), enrollment status (full-time or half-time), and/or the amount of qualified educational expenses for the year, students may be eligible for a federal education tax credit. Detailed information about eligibility and how to claim education tax credits is available in IRS Publication 970.

The dollar amounts reported on Form 1098-T may assist students to complete IRS Form 8863, which is used to calculate certain education tax credits that students may qualify for when filing their federal tax returns.

Please note that MIT cannot provide personal tax advice. For advice on hiring a tax professional to prepare tax returns, please review Tips for Choosing a Tax Preparer.

For reference, a blank sample of the 2018 Form 1098-T is below.

For more information about Form 1098-T, visit https://www.irs.gov/forms-pubs/about-form-1098-t.

IRS 1098 t form for 2018