1098-T Update Notice

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1098-T Update Notice

December 3, 2018

Dear Students,


The 2018 tax year is coming to an end. Before you know it, it will be time to file your 2018 tax return.

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

Depending on your income (or your family’s income, if you are a dependent), whether you were considered full or half-time enrolled, and the amount of your qualified educational expenses for the year, you may be eligible for a federal education tax credit. (You can find detailed information about claiming education tax credits in IRS Publication 970, page 9.)

The dollar amounts reported on your Form 1098-T may assist you in completing IRS Form 8863 – the form used for calculating the education tax credits that a taxpayer may claim as part of your tax return.

Teachers College, Columbia University is unable to provide you with individual tax advice, but should you have questions, you should seek the counsel of an informed tax preparer or adviser.

For more information about Form 1098-T, visit https://www.irs.gov/pub/irs-pdf/f1098t.pdf.

Note: Teachers College can not provide individual tax advice and shall not be liable for damages of any kind in connection with this information. Accordingly, you should consult your tax adviser about your specific circumstances. Sincerely, Office of the Bursar


Sincerely,

Office of the Bursar