1098T Tax Form Information
NEW!!! 1098-T Electronic Consent
The Missouri State University is required by the IRS to furnish all students with a Form 1098-T for each calendar year with qualified charges or credits. The Form 1098-T details the qualified charges or credits that hit the student’s account within a specific year. Please note that this is based on when the activity hit the account, not according to the term the activity is related to.
Federal regulation allows those eligible to receive IRS form 1098-T the option to receive the form in an electronic format instead of through the mail. As a result, Missouri State University students may elect to view and print their IRS form 1098-T through their My Missouri State portal rather than wait for its delivery by mail. When you give consent, you may view the form as soon as it is available each January.
To find the form and give electronic consent, please login to your My Missouri State portal and go to the Student Tab > My Finances > Student Finances > Access Account and Make Payments > Tax Forms.
*The information on the 1098T is only informational. You must rely on your receipts to determine the amount paid out-of-pocket for the tax credit.
The benefits of receiving electronic notification are:
- Online delivery provides access to the 1098-T form earlier than the traditional mailing process.
- Online delivery eliminates the chance that the 1098-T will get lost, misdirected, or delayed during delivery, or misplaced once delivered.
- Signing up for online delivery is easy and secure.
- 1098-T forms can be delivered while traveling or away from home
To give consent to receive your 1098-T form electronically, follow the simple instruction to sign up!
By choosing to receive the electronic format, you will no longer receive a paper 1098T.
1098T Tax form Changes for 2018
In previous years, your 1098-T included a figure in Box 2 that represented the qualified tuition and related expenses (QTRE) we billed 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.
Missouri State 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 students to print their 1098Ts prior to 2020
- Log into My Missouri State.
- Go to Profile tab
- Banner Self Service (first column)
- Student Account
- Tax Notification
- Enter tax year '2019' (or a previous tax year)