1098-T Tax Information
Calendar Years 2012-2014 (University Code is XG)
Calendar Years 2010 and 2011
Calendar Years prior to 2010: Please contact Student Financial Services at 803/323-2165 for assistance.
1098-T Tax Reporting Information
1098-T forms are available by January 31 to students who meet the IRS’ reporting requirements. Winthrop currently outsources the processing of tax form 1098-T to ECSI and the forms are made available online.
What is Form 1098-T?
The IRS requires Winthrop University to report, both to the student and the IRS, certain summary financial information for students who meet IRS reporting criteria. This information is provided to assist students in determining their eligibility for certain educational tax credits. This includes the following for transactions posted to student accounts in the calendar year:
- Tuition & qualified fees
- Information on transmitted grants and scholarships, including:
- WU administered grants & scholarships
- External/private scholarships
- Federal grants & qualified military benefits
The IRS requires Winthrop University to report either:
- Payments received for qualified tuition and fees (Box 1), or
- Transactions billed for qualified tuition and fees and university administered grants and scholarships (Box 2)
As Winthrop University reports transactions billed for qualified tuition and fees and Winthrop University administered grants and scholarships, no information regarding payments is formally included on the 1098-T or are reported to the IRS, however, payment information can be found on the supplemental page of the 1098-T form. Students should consult banking records or their student account history on Wingspan for payment information. Receipt of a Form 1098-T does not establish eligibility for certain educational tax credits. Students should consult a tax advisor to determine eligibility.
There are many details surrounding benefits of The Taxpayer Relief Act of 1997. Please contact a tax professional to determine if you qualify for these benefits. Winthrop University cannot provide tax advice. Visit one of the following websites to learn more about these tax benefits: