What is Form 1098-T?

Section 6050S of the Internal Revenue Code requires eligible educational institutions to file information returns to assist taxpayers in determining the amount of qualified tuition and related expenses for which the educational tax credit is allowed. Form 1098-T is made available to students no later than January 31 of each year. A 1098-T form must be provided to each eligible student but is for informational purposes only and is not meant to be filed with your tax return. The 1098-T form does not mean that you qualify for a tax credit, nor does it require you to claim a tax credit. Education credits are claimed on Form 8863, Education Credits.

Methodist University has contracted with Maximus Federal to provide both the electronic and paper 1098-T forms. If you do not retrieve your 1098-T electronically, one will be mailed to you. Students will be notified by email to their Methodist student email account when the forms are available.

Frequently Asked Questions about IRS Form 1098-T

Yes. Students must visit Maximus Federal Website and either log-in (return users) or register (first time users). You may then print an actual copy of the Form 1098-T.

You received a Form 1098-T because you were enrolled in at least one course at Methodist University during the past calendar year. It does not mean that you are eligible for any of the available education tax credits (deduction, Hope, or Lifetime Learning). Determination of qualified charges and payments is the responsibility of the taxpayer. Methodist University cannot determine any qualifications for tax credits. Please consult a tax professional with regards to any questions regarding your potential tax credit.

You did not receive a Form 1098-T because you did not have any payments for qualified tuition or related expenses on your student account between January 1 and December 31 of the previous calendar year.

Only a citizen of the United States is automatically eligible to receive the Form 1098-T. International students who are enrolled in undergraduate hours will receive a Form 1042-S.

Educational institutions are required to report payments received for qualified tuition and expenses (Box 1) during each calendar year. Payments are capped at the amount of qualified tuition and related expenses for the calendar year, as well as any pre-payments for the upcoming spring semester for those qualified tuition and related expenses. The IRS does not consider room, meals, or certain fees as qualified tuition.

Box 5, Scholarships and Grants, includes any scholarships and grants reported for the calendar year. This also includes any payment from government agencies such as the Department of Veterans Affairs, Department of Defense, etc.

Any adjustments to qualified tuition or scholarships and grants previously reported are provided in Boxes 4 and 6 respectively.

For further explanation of each box, see Instructions to Student printed on the form.

Students can view and print a copy of their Form 1098-T by visiting the Maximus Federal Website  or by calling 1-833-604-9184.The University’s School Code is 002946.

If your Form 1098-T does not include your social security number / individual taxpayer ID number (ITIN), please download Form W-9S (Request for Student’s or Borrower’s Taxpayer Identification Number and Certification and return it via U.S. Mail using the information below. Please DO NOT fax or email the form. This form has personally identifiable information (PII) and faxing or emailing the information is not a secure method of providing the information to the University.

The University will send you a secured link to upload the Form W-9S. You can also mail the information to the address below:

Methodist University
Student Financial Services
5400 Ramsey Street
Fayetteville, NC 28311

The student’s SSN/ITIN will be updated, and a corrected Form 1098-T will be created and available on the Maximus website as well as filed with the IRS. Please allow 7-10 business days upon mailing the form to allow time for receipt and processing.