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1098T Tuition Statement

Eligible students will be receiving the 1098T tuition statement each year during January outlining the prior year’s tax information.

The IRS instructs institutions to report only payments received (Box 1) that number cannot be more that the total of tuition and fees plus books.  We also report scholarships received.

There are several reasons why a student may not receive a 1098T form from Niagara. These are: no social security number on file, the student's record has an incorrect billing address, student is a non-resident alien, a foreign student, or if the student tuition and fees equal scholarships and/or grant, or did not have tuition or scholarships charged or credited during the tax year.  Niagara sends out IRS W-9 forms in November and December, and it is the responsibility of the student to return the form prior to the IRS file being submitted.

Pre-payment: It is important NOT to make a payment in December for the following year, because we can only report tuition and fees paid in the calendar year; which cannot exceed the amounts billed.  That means we can't report any prepayments and that payment may not get reported the following year.

Am I Eligible to Claim an Education Credit?

The IRS application will help you determine if you are eligible for certain educational credits or deductions including the American Opportunity Credit, the Lifetime Learning Credit and the Tuition and Fees Deduction.

The tool is designed for use by taxpayers that were U.S. citizens or resident aliens for the entire tax year for which they are inquiring about. If married, the spouse must also have been a U.S. citizen or resident alien for the entire tax year.

Where Do I Find the 1098Ts?

The  1098Ts will be available in WebAdvisor in late January for any college student who has had tuition charged or received scholarships in the tax year. Once logged into WebAdvisor, under Financial Resources, choose the 1098T Viewable Form option. Complete the consent to view the form and then you will be able to view and print your 1098T. 1098Ts  from 2008  can still be found on myNU. If you are having difficulties with this and want us to mail a copy to you, please contact the Student Accounts Office at 716.286.8300 or email us at sao@niagara.edu.  We will only send 1098T forms to students.  You will have access to 1098T forms on TouchNet as well.  Only the student can access the 1098T.

NOTE:  It is up to each taxpayer to determine eligibility for the credits and how to calculate them. Niagara University cannot advise you on how to claim the credit.

What should you do with the 1098T form?

Review the "Instructions for Student" on  the 1098T. Then, consult with your tax advisor. 

Explanation of Amounts Reported

Amounts reported include relevant tuition paid, scholarships and grants received between 01/01/20XX and 12/31/20XX.

What should I do if I did not receive a 1098T form?

If you did not receive a 1098T tax form, please follow the instruction at the top of this page to view and print the form from your WebAdvisor, TouchNet, or contact us to send you a copy. If you did not have relevant tuition paid, scholarships and grants processed during that relevant tax year there will not be a 1098T.

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