The Internal Revenue Service Form 1098-T is available annually for the most recent tax year ending December 31. Beginning with the 2020 Tax Year, Form 1098-T will be available directly for download in PAWS in early January. Communications<\/a> will be sent to your UW-Milwaukee email account in December and January with details on how to obtain your 1098T through PAWS. If you are unable to access your account or do not want to receive your 1098T form electronically, a copy will be mailed to your address on file postmarked by January 31.<\/p>\n\n\n\n Form 1098-T shows the total amounts paid for qualified tuition and fees for the previous tax year. You will need this form to claim educational expense tax credits. Students may view financial activity including payment details from their PAWS Student Center (Home page) Finances section. Click the drop-down box and select Account Activity. You can search by date and\/or term.<\/p>\n\n\n\n You can also use our ‘Estimated Cost of Attendance’ document for the appropriate tax year if you want to claim expenses that are not on a 1098-T. The most recent years can be found on our Cost of Attendance page<\/a>. <\/p>\n\n\n\n Important UWM-related information on Form 1098-T includes:<\/p>\n\n\n\n ****** The staff at UW-Milwaukee is unable to provide individual tax advice. Please consult a tax attorney, informed tax preparer, or adviser if you have specific questions related to tax preparation.<\/p>\n\n\n\n Please contact the Student Financial Service Center if you have questions concerning the amounts on your 1098-T Form. 1098-T FAQ<\/a> Your 1098T Tax Form is now Available in PAWS University of Wisconsin System As required by the Internal Revenue Service (IRS), Form 1098-T is mailed by Jan. 31 to all students who had qualified Tuition Tax Credits and Deductions \u2013 Form 1098-T The Internal Revenue Service Form 1098-T is available annually for the most recent tax year ending December 31. Beginning with the 2020 Tax Year, Form 1098-T will be available directly for download …<\/p>\n","protected":false},"author":40,"featured_media":0,"parent":4017,"menu_order":23,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":"","uwm_wg_additional_authors":[3041,19586,34594,37275,33688]},"class_list":["post-4026","page","type-page","status-publish","hentry"],"yoast_head":"\n\n
Prior to tax year 2018, the University of Wisconsin-Milwaukee reported the total amounts of qualified tuition and fees billed during the relevant tax year in Box 2 of Form 1098-T. Beginning with tax year 2018, we will no longer report total amounts billed for qualified tuition and fees. The total amount of payments received for qualified tuition and related expenses from all sources will be reported in Box 1.<\/p>\n\n\n\n
Email: finances@uwm.edu<\/a>
Telephone: (414) 229-4541<\/p>\n\n\n\nAdditional Information<\/b><\/h2>\n\n\n\n
IRS Education Tax Credits<\/a>
IRS Am I Eligible to Claim an Education Credit?<\/a><\/p>\n\n\n\n1098-T Communication Example<\/h2>\n\n\n\n
1098T Tax forms can now be accessed directly through your PAWS account. To retrieve your
1098T electronically, you will need to file an electronic consent through PAWS:<\/p>\n\n\n\n\n
selection.<\/li>\n\n\n\n
Once you have consented, your form will be visible in PAWS. Click on the hyperlink to
download\/print your form.
If you do not agree to receive it electronically, your 1098T will be mailed to you to the mailing
address you have on file, postmarked by January 31st. Please review your address information
in your Student Center. Additional 1098T information is available on the UWM OneStop site.
Please email finances@uwm.edu with any questions.<\/li>\n<\/ol>\n<\/div>\n\n\n\n1098-T FAQ<\/h2>\n\n\n\n
Tax Benefits for Education – 1098-T
Frequently Asked Questions<\/em><\/p>\n\n\n\n
tuition and other related educational expenses paid during the previous calendar year.
The 1098-T form is informational only and should not be considered as tax advice. <\/strong>It serves to alert students that they
may be eligible for federal income tax education credits such as the American Opportunity Credit and the Lifetime Learning
Credit as part of their Federal Income Tax Return. IRS Publication 970, “Tax Benefits for Higher Education,” as well as
Chapter 35 of IRS Publication 17, provide additional information on these credits. While it is a good starting point, the 1098-
T, as designed and regulated by the IRS, does not contain all of the information needed to claim a tax credit. To determine
the amount of qualified tuition and fees paid<\/strong>, and the amount of scholarships and grants received, a taxpayer should use
their own financial records.<\/em> There is no IRS requirement that you must claim the tuition and fees deduction or an education
credit. Claiming education tax benefits is a voluntary decision for those who may qualify.<\/p>\n\n\n\nFORM 1098-T FREQUENTLY ASKED QUESTIONS:<\/h3>\n\n\n\n
\n
The 1098-T form is used by eligible educational institutions to report information about their students to the IRS as
required by the Taxpayer Relief Act of 1997. Eligible educational institutions are required to submit the student’s
name, address, taxpayer’s identification number (TIN), enrollment status, amounts pertaining to qualified tuition
and related expenses, and scholarships and\/or grants, taxable or not. A 1098-T form must also be provided to
each applicable student.<\/li>\n\n\n\n
In January of each year, the University of Wisconsin System provides an IRS Form 1098-T for all students
who had qualified tuition and other related educational expenses paid during the previous calendar year. The
form is made available electronically or mailed by the end of January.<\/li>\n\n\n\n
Yes. Section 6050S of the Internal Revenue Code, as enacted by the Taxpayer Relief Act of 1997, requires the
University to file information returns to assist taxpayers and the IRS in determining the amount of qualified tuition
and related expenses (qualified expenses) for which an education tax credit is allowable under section 25A
(American Opportunity and Lifetime Learning education tax credits), as well as other tax benefits for higher
education expenses.<\/li>\n\n\n\n
The IRS instructs institutions to report payments received (Box 1). Prior to the 2018 calendar reporting, the
University of Wisconsin reported qualified tuition and related expenses that were billed during the tax year (Box
2). Box 2 is no longer a reporting option.<\/li>\n\n\n\n
expenses?
Qualified tuition and related expenses refer to tuition and required fees, such as segregated fees and lab fees, a
student must pay to be enrolled at or attend an eligible education institution. Tuition waivers and remissions are
considered reductions to qualified tuition and expenses.
Qualified expenses do not include:<\/li>\n\n\n\n
education is required as part of the student’s degree program or is taken to acquire or improve job skills.<\/li>\n\n\n\n
institutions usually do not require that the cost of the books or equipment be paid to the institution as a
condition of the student’s enrollment or attendance at the institution. However, some campuses may
have a mandatory textbook fee or rental program which may be included as a qualified related expense.<\/li>\n\n\n\n
IRS Form 8863 as I file mytaxes?
Not necessarily. The University is required to provide the “amounts paid” and “scholarship or grant” figures to help
you determine the amount of qualified expenses you can claim on your IRS Form 8863. Per Internal Revenue
Code Section 25A, taxpayers may claim an education tax credit only with respect to qualified tuition and related
expenses paid during the calendar year. You will need to review your payment records to determine the actual
qualified expenses paid. Remember that qualified amounts paid by student loans may count as payments eligible
for these purposes. Scholarships and grants received may reduce your eligible payment amounts. See IRS
Publication 970 for information to determine your qualified expenses paid amount.<\/li>\n\n\n\n
This information may be found on your campus\u2019s Student Information Systems on your tuition account or on-line
billing statement history. If you are a parent looking for this information for a student, please ask your student to
access this information for you.<\/li>\n\n\n\n
This box shows the amount of any tuition and fees reductions in the current calendar year for charges that were
billed in a previous calendar year. It also shows reimbursements or refunds of qualified tuition and related
expenses made in the current calendar year that relate to payments received that were reported for any prior
year after 2002.<\/li>\n\n\n\n
The figure in Box 5 – Scholarships or Grants includes scholarships, grants and, if applicable, payments made by a
third party under a formal billing arrangement (i.e., outside scholarships, employer provided educational assistance
[regardless of taxability], military, etc.) which havebeen administered by the University of Wisconsin System. If you
received other forms of outside scholarships and grants not administered by the University of Wisconsin System, it
is your responsibility to adjust the figure accordingly. Third party payments do not include payments made by your
parent or other individuals.<\/li>\n\n\n\n
taxed on it?
The University of Wisconsin System does not determine whether your education benefits are being taxed by your
employer. As such, scholarships and grants are increased by 100% of any employer provided payments under a
formal billing arrangement, and it is up to the student to adjust their qualified tuition and related expenses
accordingly based on the taxability of their employer benefits.<\/li>\n\n\n\n
This box shows the amount of any scholarship, grant and, if applicable, third party reductions in the current
calendar year for aid that was credited in a previous calendar year.<\/li>\n\n\n\n
Box 8 will not be checked if you were not enrolled at a half-time status during an academic period which is either
enrolled or billed during the calendar year. The University of Wisconsin System checks this box if you were halftime or more for at least one term beginning during the year.<\/li>\n\n\n\n
Box 9 will be checked if you were enrolled as a graduate student for at least one academic period during the
calendar year. If Box 9 is checked, it alerts the IRS to the fact that the American Opportunity Credit is not allowable
for the student\u2019s qualified expenses because the student is beyond the first four years of post-secondary
education and that the Lifetime Learning Credit may beallowable.<\/li>\n\n\n\n
The single most important information on the form is your Social Security Number. You must submit a
written request to change or correct your SSN by mail or in person to the Registrar\u2019s Office. You may be required
to supply a signed, legible copy of your Social Security card or complete Form W-9S (Request for Student’s or
Borrower’s Taxpayer Identification Number and Certification). Form W-9S is the official IRS form used to state
your SSN. You need only complete Part I of this form when requesting a 1098-T. Enter your SSN in the spaces
marked “Taxpayer identification number.\u201d<\/li>\n\n\n\n
Generally, foreign students cannot claim a credit. However, some foreign students may be eligible. Review IRS
forms, instructions, and publications for guidance.<\/li>\n\n\n\n
Your name is a key element on your tax information. Follow your campus\u2019s process for changing your name so
that the University has up-to-date information.<\/li>\n\n\n\n
Students who have access to the campus\u2019s Student Information Systems can consent to receive Form 1098-
T electronically. For those that do not provide electronic consent, 1098-T\u2019s are mailed to the student\u2019s
address as maintained by the University of Wisconsin System Campus Registrar’s Offices at the end of
January. You should follow your campus\u2019s process for changing your address so that the University has upto-date information.<\/li>\n\n\n\n
No. The address shown on Form 1098-T is irrelevant for IRS income tax filing purposes. However, you should
follow your campus\u2019s process for changing your address so that the University has up-to-date information.<\/li>\n\n\n\n
To receive a reprint of your Form 1098T, please contact the institution\u2019s Bursar Office and they will mail a copy of
the form to your mailing or home address in your student center.<\/li>\n\n\n\n
UW institutions will issue a 1098-T to any student who:<\/li>\n\n\n\n
UW institutions will issue a copy of a previously issued 1098-T to any student to whom that 1098-T was previously
issued.<\/li>\n<\/ol>\n<\/div>\n","protected":false},"excerpt":{"rendered":"