1098-Ts for 2022 will be mailed by January 31, 2023, to students who have not consented to electronic delivery. Students will be able to access (view and print) their 1098-Ts electronically via myUMBC if you have consented to receive electronic delivery. Please take a moment to review the following FAQ. We hope it will answer your questions. If you need to reach us you can always contact Student Business Services. We’re here to help you!
What is a 1098-T Form?
A 1098-T is a tax form that is submitted to the IRS by higher education institutions. The IRS Form 1098-T reports payments made by you, or on your behalf, in a tax year for qualified tuition and related expenses, as well as receipt of certain financial aid and scholarships.
Why should I consent to the Electronic Delivery of my 1098-T?
The benefits of receiving your 1098-T electronically are:
- Online delivery provides access to the form 1098-T earlier than the traditional mailing process.
- Online delivery is more secure, and eliminates the chance that the mailed 1098-T will get lost, misdirected, or delayed during delivery, or misplaced once the student receives it.
- Students can receive their 1098-T form even while traveling or on assignment away from their home address.
If you would like to receive your 1098-T form electronically, please give your consent by following the step-by-step instructions below.
Step 1: Click on the link: 1098-T Electronic Consent Link
Step 2: You may need to log into your myUMBC. Click on “Grant Consent”. If you choose to receive a paper copy of your 1098-T statement, simply do nothing.
Why do I need to submit my SSN/TIN?
The Internal Revenue Service (IRS) requires the university, by law, to report either a U.S. Social Security Number (SSN) or U.S. Tax Identification Number (ITIN) on Form 1098-T. To verify your SSN/TIN number click on this link – Verify SSN/TIN
The Social Security Number (SSN) on my form is missing or incorrect. What should I do?
Reporting to the IRS depends primarily on your SSN, so it is very important for you to have the correct information on file with UMBC. Please contact SBS by submitting a help ticket no later than March 1st to SBS Help and select 1098T as your option for “Reason for your request”. Please do not include your SSN/TIN in this communication. A separate secure link will be sent to you to update the information.
When will I receive my 1098-T?
Mailed 1098-Ts will be postmarked by 1/31/23.
When will online access to 1098-T be available?
No Later than January 24th, 2023
If I have consented to electronic delivery of my 1098-T, how do I view it online?
- Login to myUMBC
- Select the Account Inquiry link.
- Select the Account Services tab.
Will every student receive a 1098-T?
No, some students are not eligible to receive a 1098-T.
You will not receive a 1098-T if:
- The total amount of your scholarships and/or tuition waivers received in the calendar year was equal to or exceeded the total amount of eligible tuition and fees paid in the same calendar year.
- You did not have eligible charges in the calendar year. Note that charges reported are based on the date of payment for classes, not on billing.
Will my 1098-T reflect payments on eligible charges?
Yes, UMBC will report on payments received on eligible expenses for the 2021 calendar year.
Why are Winter 2023 and/or Spring 2023 payments reflected on the 2022 1098-T?
All eligible payments made in 2022 will appear in Box 1. If you registered and paid for Winter 2023 and/or Spring 2023 classes in 2022, those payments will be included in Box 1.
What is included in Box 1 (Amounts Paid)?
Payments on all eligible tuition and mandatory fees, including orientation and matriculation fees, paid in the calendar year are included in Box 1. Please note that Room and Board are not reported on 1098-Ts.
Is all financial aid included in Box 5 (Scholarships and Grants)?
Only scholarships, grants, and third-party payments are included in Box 5. Loans are not reported in box 5 on 1098-Ts but are included in Box 1 if paying eligible expenses.
Where are tuition & fee waivers reported?
Tuition & fee waivers (such as tuition remission) that posted in the calendar year are subtracted from eligible tuition and fee payments for the same calendar year. The difference is reported in Box 1.
What is reported in Box 4 (Adjustments made for a prior year)?
Adjustments made in the calendar year on payments for tuition and/or fees posted in a previous calendar year are reported in Box 4.
What is reported in Box 6 (Adjustments to scholarships or grants for a prior year)?
Adjustments made in a calendar year on scholarships or grants that posted in a previous calendar year are reported in Box 6.
I don’t understand what I’m supposed to do with this Form 1098-T.
UMBC is unable to provide you with tax advice or to assist with tax filing instructions. Please consult your tax advisor or the Internal Revenue Service.
Instructions for the 1098-T IRS Form can be found at this link – IRS 1098-T publication