Baker College cannot give tax advice to you or your parents. You will need to contact your tax adviser regarding eligibility for credits and how to prepare your tax returns.
The 1098-T form is informational only. It is designed and regulated by the IRS, which requires colleges and universities to provide the form to students as a method to assist them in determining their eligibility for the educational tax credits. For more information regarding tax education credits, refer to IRS Publication 970: Tax Benefits for Education. Please note that these amounts are not necessarily intended to be the amounts that you may record on your return. To determine the amount of qualified tuition and fees paid, and the amount of scholarships and grants received, a taxpayer should use their own financial records.
The 1098-Ts are required to be available online/postmarked no later than January 31, 2024 for the reporting year 2023.
Beginning with reporting year 2022, the 1098-T documents are available online to view, save, and/or print. You can access your 1098-T form(s) from the following:
Clicking the "Access 1098-T Forms" link will redirect you to the Student Portal.
For more information on accessing form 1098-T you may also review the 1098-T Information article
If you are no longer enrolled with St. Francis School of Law, a division of Baker College, and cannot access your 1098-T form through an electronic method please contact the Business Office at businessoffice@stfrancislaw.com, by phone at 1-800-931-2694, or submit a ticket by clicking on the "Submit a Ticket" button to request a paper copy.
No. Keep the form for your records. The College sends a copy of the form to the IRS, this copy is for your information.
Yes. The college submits an electronic file to the IRS according to their due dates, which gives the institution until May 1, 2024, to file the 2023 tax year forms.
The IRS allows the college to truncate the social security number on the forms for students to help protect personal information.
First, please review the information listed below regarding what should be recorded in the boxes. If you still have questions, please contact the Business Office or submit a ticket by clicking the "Submit a Ticket" button. An adviser will assist you with determining how the amounts were calculated on your 1098T form. Please note, however that Baker College does not provide tax advice. For assistance on what to do with the information on your 1098T, please consult a tax professional.
Due to a change to institutional reporting requirements under federal law, beginning with tax year 2018, Baker College will report in Box 1 the amount of payments received for qualified tuition and related expenses paid during the calendar (tax year).
Box 1 – "Payments received for qualified tuition and related expenses" This box reports the amounts paid for qualified tuition and related expenses (QTRE) less any reimbursements or refunds against those payments. As defined by the IRS, QTRE are tuition and fees required for enrollment:
Box 1, most commonly includes, payments made for the following:
Box 1, Does Not include, payments made for the following:
- Books/Supplies
- Application Fees
- Enrollment Fees
- Late Fees
- NSF Fees
However, Box 1 may include payments that do not correspond to the class dates; possibly for a prior year (2022) or a future term (for example, tuition for Spring 2024 may be paid in December 2023).
Books, supplies, and equipment are not included in Box 1 because the College does not require that you purchase these items from the College in order to attend.
You can obtain detailed payment information on your student account by reviewing your Statements:
Clicking the "Make a Payment" link will redirect you to the Student Portal.
- Select "Statements"
- Select the "View" or "Save" Icon Next to the Chosen Statement
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Box 4 – "Adjustments Made for a Prior Year". These are any reimbursements or refunds of qualified tuition and related expenses (tuition adjustments/refunds) made in the calendar year 2023 that relate to payments received and reported on a 1098T for a prior year.
Box 5 – "Scholarships or Grants" This box represents the net amount of financial assistance that was applied to your student account during the calendar year. This amount does not just include federal financial aid, but all forms of aid. This includes payments received from 3rd parties, employers, and governmental and private entities. Box 5 does not include loan funds or payments from family members. If the college invoiced a third party that paid for your tuition, books, or other amounts, such payment is included in Box 5.
IRS regulations state that there are “no double benefits allowed”. If your tuition was paid with funding that was not taxable to you from any of the types of payers listed above, then you must reduce any educational credit by those amounts. For more information, you should contact your tax adviser or refer to IRS Publication 970: Tax Benefits for Education.
The "Scholarships or Grants" amount may include funding that was used to pay for expenses or costs that are not included in the Box 1 amounts. For example, you could be receiving third party funding that covers your tuition, books, fees, etc.; yet Box 1 can only report payments received for tuition and related expenses (which excludes books), while Box 5 includes all scholarships and grants payments for the year. Another example may be that you received a refund of excess scholarship or grant funding, which is calculated out of the total amounts paid toward QTRE in Box 1; however, it is not removed from the total amount reported in Box 5.
Box 6 – "Adjustments to Scholarships or Grants for a Prior Year". This is a decrease/reduction in scholarships or grants reported for a prior year. For example, a reduction to a scholarship or grant that originally paid for Fall 2022 term that is processed in 2023.
Box 7 – "Checkbox for Amount for an Academic Period Beginning in January Through March of 2024" This will be checked if you made payments in the calendar year 2023 for tuition and related expenses for terms that begin in January through March of the 2024 calendar year. For example, a payment of tuition for Spring 2024 term made in December 2023.
Box 8 – "Half-Time Student" This will be checked if you are enrolled at least half-time during at least one academic period that began in 2023.
Box 9 – "Graduate Student" This will be checked if you were enrolled in a program or programs leading to a graduate-level degree, graduate-level certificate, or other recognized graduate-level educational credential during the calendar year.
Below is a blank sample of the 2023 Form 1098-T for your general reference. For more information about Form 1098-T, visit the IRS website.
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