How do I obtain a copy of my 1098-T?
The 2014 1098-T’s have been prepared by ECSI. If you would like to obtain a copy of your 1098-T or need to make changes to it, please refer to the ESCI website http://www.ecsi.net/taxinfo.html. You will need the following information to login to ECSI:
Why am I receiving a 1098-T statement?
The 1098-T tax form is a statement of qualified tuition and fees charged by Ohio Wesleyan University which is provided to the student as well as reported to the IRS. As an eligible educational institution, the University is required to provide 1098-T Tuition Statements to students who were enrolled in courses at the University during the calendar year. The 1098-T is intended to assist you in calculating your eligibility for income tax credits. The 1098-T tax form contains the qualified tuition and related expenses billed to the student by Ohio Wesleyan University during the 2014 calendar year. In addition to amounts billed, the statement also contains the amount of scholarships and grants awarded to the student. The IRS allows colleges and universities to elect whether they will report payments received (Box 1) or amounts billed (Box 2) for qualified educational expenses; Ohio Wesleyan University has elected to report amounts billed.
What time period does my 2014 1098-T cover? Is there a mismatch of what is being reported?
The 2014 1098-T covers the period 01/01/14 through 12/31/14 and reports Tuition and Fees billed in Box 2 and Scholarships and Grants awarded in Box 5 which have posted to the student's account during the calendar year. Reporting activity on a calendar year basis creates a timing difference on the student’s 1098-T which is most apparent during the first and fourth year of attendance. This difference is caused by the spring semester activity being posted in different calendar years; the tuition is posted in November, approximately 2 months prior to the beginning of the term, and the associated scholarships and grants are posted in January of the following year, as required by Federal regulations. The IRS requires institutions to report on form 1098-T in this manner. For further explanation, see the Internal Revenue Service Notice 2006-72 question #13.
What does each box on the 1098-T represent?
Who can I contact if I have further questions?
Ohio Wesleyan University cannot provide tax advice, please contact your tax professional if you have any tax related questions. If you have a general question regarding the information contained on your 1098-T statement and would like to speak to someone at Ohio Wesleyan University, please contact:
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