Tax form 1098-T is an informational form that serves to alert students that they may be eligible for federal income tax education credits such as the American Opportunity Credit
or the Lifetime Learning Tax Credit. It should not be considered as tax opinion or
advice. In addition to the 1098-T form, you will also need your student account history
found under "Student Account Details" in MyMichiganTech/Banweb, and personal records, such as bank statements, to assist you in completing IRS Form
For information pertaining to educational tax credits please refer to IRS Publication 970 and to IRS form 8863.
Important note: Michigan Technological University is unable to provide you with tax advice. If you have tax related questions, you should seek professional assistance from an informed tax preparer.
Listed below is a description of what is included in each box of the 1098-T form.
The total amount of payments received from all sources including scholarships and grants (except for those designated for room and board) up to the amount billed for qualified expenses (tuition, course related fees, student activity fees and experience tech fees) less refunds, that were billed in 2018 and 2019, less payments reported on the 2018 1098T. All payments made, whether they be for housing or other fees, are included in this amount.
You may want to print out your "Student Account Details" found in MyMichiganTech/Banweb under "Payments/Confirm Enrollment" to see the timing of when payments and charges were applied.
Will be blank.
Will be blank.
Will include adjustments made for a prior year. Payments received. Will include reimbursements or refunds of qualified expenses made in 2019 that relate to payments received that were reported for any prior year after 2002. Amounts billed. Will include reductions in charges made for qualified expenses made during the calendar year that relate to amounts billed that were reported for any prior year after 2002.
Includes the total amount of any scholarships or grants processed during the calendar year for the payment of the student's cost of attendance less loans.
Includes any adjustments to scholarships or grants previously reported on the 1098T.
Will be checked if payments for Spring semester 2020 were billed in 2019.
Will be checked if you were an undergraduate student enrolled at least half time.
Will be checked if you were enrolled as a graduate student during 2019.