Tax Form 1098-T reporting change

From: Office of the University Bursar

Due to a change to institutional reporting requirements under federal law, beginning with tax year 2018, Virginia Tech will report in Box 1 the amount of qualified tuition and related expenses paid during the year. In previous years, the 1098-T included a figure in Box 2 that represented the qualified tuition and related expenses billed to the student account for the calendar (personal tax) year.

The dollar amounts reported on Form 1098-T may assist in completing IRS Form 8863 – the form used for calculating the education tax credits that a taxpayer may claim as part of an individual tax return. Detailed information about claiming education tax credits is available in IRS Publication 970.

Virginia Tech is unable to provide individual tax advice.  Please seek the counsel of an informed tax preparer or adviser for any questions. 

For fastest receipt of the 1098-T in January 2019, students can enroll in electronic receipt through Hokie Spa>>Hokie Wallet>> Enroll in 1098-T Tax Form. After enrolling in electronic receipt, students can also grant access to parents and other parties to view the 1098-T and account detail by provisioning Guest Account using the appropriate permissions.

For more information about Form 1098-T, visit https://www.irs.gov/pub/irs-pdf/f1098t.pdf and https://www.bursar.vt.edu/tuition-fee-rates/taxinfo.html.  For questions, please contact the Office of the University Bursar at bursar@vt.edu or 540-231-6277.