SMCM Students,

IRS 1098T’s forms have been mailed and are visible on your portal.  If you believe there is a miscalculation of any kind please use the contact information below, email is preferred.

A Few Q and A’s below:

What is a form 1098-T?

The 1098-T is an IRS form entitled “Tuition Statement” that assists students in determining if they qualify for certain education-related tax credits under the Taxpayer Relief Act of 1997 (TRA97). The IRS requires eligible educational institutions, such as St. Mary’s College of Maryland, to provide this statement to students enrolled in eligible degree programs, as well as to the IRS.

When will 1098-T forms be mailed?

1098-T forms will be mailed and postmarked by January 31st.

Where will the forms 1098-T be mailed?

The 1098-T will be mailed to your permanent address on file with the College, if your permanent address is incorrect, you can update this by contacting the Registrar’s Office and filling out a “Change of Address From”.

What should I do if I haven’t received my form 1098-T?

Forms 1098-T will be mailed by January 31st. You can also access the Form 1098-T electronically through the Student Portal.

How do I access my 1098T prior to 2024?

You need to contact the business office directly by submitting a request through email studentaccounts@smcm.edu please give your name, student ID # and the year you are requesting.

What do the amounts located on the form represent?

• Box 1. Payments Received for Qualified Tuition and Related Expenses: The amount reported is the total amount of payments received, less any reimbursements or refunds made during the calendar year, that were applied to any qualified tuition and related expenses during the same calendar year. The amount reported is not reduced by scholarships and grants, which are reported in box 5.

  Qualified tuition and related expenses, as defined by the IRS, are charges for tuition for a degree-seeking program, registration fees, lab fees, art fees, etc., and some charges billed directly through your student account. They do not include charges for room and board, health or health insurance-related fees, late fees or any fines and penalties.

• Box 2: Reserved. Due to changes to institutional reporting requirements under federal law, beginning in tax year 2018, we will report in Box 1 the amount of qualified educational expenses for the year.  Amounts billed will no longer be reported.
• Box 4: Adjustments to payments, refunds or stipends for qualified tuition and related expenses for a prior year that relate to payments received.
• Box 5: Scholarships or grants: This box contains the sum of all scholarships the College administered and processed for the student’s account during the calendar year. Scholarships and grants generally include all payments received from third parties.  This includes payments received from governmental and private entities such as the Department of Veterans Affairs, the Department of Defense, civic and religious organizations and nonprofit entities.   Tuition waivers and payments received from third parties that are applied to a student’s account for education expenses are included in this box. Please note that you may receive additional scholarships that the College does not administer and process. These should also be taken into consideration when determining your eligibility for the credits.

  Please note: the funding connected to the Higher Education Emergency Relief  Fund (HEERF) will not be included in Box 5.  Learn more by visiting the IRS webpage: FAQs: Higher Education Emergency Relief Fund and Emergency Financial Aid Grants under the CARES Act.

• Box 6: Adjustments to scholarships or grants for a prior year: Negative adjustments to scholarship amounts reported in a previous year are included in this box.

Why isn’t there an amount in Box 2?

Due to changes to institutional reporting requirements under federal law, beginning in tax year 2018, we will report in Box 1 the amount of qualified educational expenses for the year.  Amounts billed will no longer be reported.

I did not receive my 1098-T form, why?

• As per IRS regulations, colleges and universities are not required to file Form 1098-T or furnish a statement for students enrolled in courses for which no academic credit is offered.
• The Form 1098-T is provided by college to all students in a degree-seeking program, who have provided their social security number to the Office of the Registrar. Please review the IRS regulations or contact your individual tax consultant concerning eligibility to claim tax education credit(s).
• If you did not provide your Social Security Number (or you do not have one), you will not have a 1098T form available to you. If you have recently obtained a SSN or TIN, you can contact the Registrar’s Office no later than December 15th, each year, to provide that information by completing the W-9S form.

I am a recipient of payment from the Department of Veteran Affairs.  How are the tuition and stipend payment amounts reported on my Form 1098-T?

VA Benefits received are reported on your Form 1098-T as scholarships in Box 5 and payments in Box 1.

Per IRS Publication 970, payments you receive for education, training or subsistence under any law administered by the Department of Veterans Affairs (VA) are tax-free. However, for U.S. tax reporting purposes, Veteran Benefit recipients are issued a Form 1098-T from the College reflecting the total tuition and fee payments by multiple sources (including benefits paid by the VA), not just items personally paid out-of-pocket.

For more information from the IRS regarding these rules please click here and see under Specific Instructions for Form 1098T under Exceptions.  You may also want to visit the Veterans Administration website at www.gibill.va.gov for specific information about various VA benefits for education.

Where can I get help?

The College cannot offer legal or tax advice. Information concerning the tax benefits for education is available in IRS Publication 970 and may be downloaded at the IRS website. Questions concerning your eligibility should be directed to the IRS or your tax professional.

For more information, please visit the US Government’s IRS Web site at Tax Information for Students or call (800) TAX-1040 or (800) TAX-FORM.