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Current Students: Tax information

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1098-T Tax Information

Roosevelt University has made accessing your 1098T forms more convenient than ever. We have changed our 1098T processor as we are no longer using NET PAY. You can now connect to the Bill+Payment system to ACCEPT or DENY consent to receive your 1098T electronically.

THREE EASY STEPS TO ACCEPT OR DENY CONSENT

  1. Login to RUAccess with your NET ID and password
  2. Select Make a Payment > Enroll in a Payment Plan > View 1098T Statement
  3. Click Connect to Bill+Payment system and you will be prompted to ACCEPT or DENY CONSENT to receive your 1098T electronically.

Even if you have opted in the past to receive your 1098T electronically, you MUST ACCEPT CONSENT in order to receive your 2017 and all future 1098T forms electronically, due to our change in processors.

You will be able to view, access, and print your 1098T forms by logging into RUAccess when they become available in January 2018 for tax year 2017. You will also be able to access your historical tax forms for 2014, 2015 and 2016, if applicable.

If you decline to OPT-IN to receive your 1098T forms electronically, they will be mailed to your home address on file with the University by January 31 every tax year.

1098T FAQs

CAN I RECEIVE MY 1098T ELECTRONICALLY?

Yes you can. Please follow the three steps below to accept or deny consent to receive your 1098T form electronically via RUAccess.

  1.  Login to RUAccess with your NET ID and password
  2. Select Make a Payment > Enroll in a Payment Plan > View 1098T Statement
  3. Click Connect to Bill+Payment system and you will be prompted to ACCEPT or DENY CONSENT to receive your 1098T electronically.

HOW DO I ACCESS MY 1098T FORM(S) ONLINE?

  1. Login to RUAccess
  2. Select Make a Payment > Enroll in a Payment Plan > View 1098T Statement
  3. Click Connect to Bill+Payment system
  4. Click My Account then select Statements from the dropdown menu.
  5. On the Statements page, scroll to 1098T Statement. Click the year of the 1098T form that you wish to view or print.

WHAT IS THE 1098T FORM?

The 1098T form is used by eligible educational institutions to report information about their students to the IRS. A 1098T form must be provided to each eligible student and is considered for informational purposes only. The form serves to alert students that they may be eligible for federal income tax education credits. Eligible educational institutions are required to submit the student's name, address, taxpayer’s identification number, enrollment status, academic status, qualified tuition/related expenses as well as scholarships/grants.

PLEASE NOTE: It is up to each taxpayer to determine eligibility for the credits and how to calculate them. Student Accounts Representatives Do Not Offer Tax Advice.

WHAT EDUCATIONAL EXPENSES ARE CONSIDERED AS QUALIFIED TUITION AND RELATED EXPENSES?

The following are examples of expenses included:

  • Graduate and Undergraduate Tuition
  • Student fees
  • Learning and Support fee

The following are examples of expenses not included:

  • Residence Hall charges
  • Application fees
  • Transcript fees
  • Diploma fees

For more information about qualified educational expenses please visit: https://www.irs.gov/pub/irs-prior/i1098et--2016.pdf

DO YOU SEND A COPY OF THIS FORM TO THE IRS?

Yes. Roosevelt University is an eligible educational institution and is required by law to file information returns to assist taxpayers and the IRS in determining eligibility for the Hope and Lifetime Learning education tax credits. Forms are made available at the end of January of each year for the previous tax year.

WHAT IS THE TIMELINE FOR THE 1098T?    

Roosevelt University will report all amounts billed for qualified tuition/fees and scholarships/grants within the calendar year (January 1 - December 31).

I AM AN INTERNATIONAL STUDENT, WHY DID I RECEIVE A 1098T FORM AND WHAT DO I NEED TO DO WITH IT?

The University is not required to provide a 1098-T to certain international students. However, we receive so many requests for them that the University chooses to provide them.

If you are an international student and you do not file a U.S. tax return, you do not need to do anything with the 1098-T. You can disregard it when you receive it. If you elect to receive your 1098T form electronically, we will not mail one to you in the future.

WHY DO MY SPRING SEMESTER CHARGES NOT APPEAR ON MY 1098T?

Students are automatically charged upon registering for classes. If you registered during early registration (November/December), your account was charged at that time, making those charges eligible to claim the previous year and should have reflected on the previous year's 1098T.

WHY ISN'T THERE AN AMOUNT IN BOX 1?

The IRS allows educational institutions to choose to report either payments received (Box 1) or amounts billed for qualified tuition and related expenses (Box 2) on the 1098T form. RU has chosen to report qualified tuition and related expenses (Box 2) and scholarships and grants (Box 5), therefore, Box1, will remain blank. Also, loan information is not reported on the 1908T form.

WHAT OTHER INFORMATION DO I NEED TO CLAIM THE TAX CREDIT?

The 1098T form serves to alert students that they may be eligible for federal income tax education credits. Receipt of Form 1098T does not indicate eligibility for the tax credit. To determine the amount of qualified tuition and fees paid, and the amount of scholarships and grants received, a taxpayer should use their own financial records.

HOW CAN I GET AN ITEMIZED LISTING OF THE FINANCIAL ACTIVITY THAT IS ON MY 1098T FORM?

Account statements are available online in RU ACCESS or by calling Financial Aid Services at 312-542-6290.

HOW DO I GET A REPRINT OF MY 1098T FORM? 

If you did not receive a 1098T due to a change of address, or you misplaced the form, you can print a duplicate by logging into RU Access. Please note that RU will not mail duplicates.

MY ADDRESS LISTED ON THE 1098T HAS CHANGED. WILL THIS AFFECT ME?

No. The address shown on Form 1098T is irrelevant for IRS income tax filing purposes. The single most important information on the form is your Social Security Number. Please call Financial Aid Services at 312-542-6290 if the SSN on your 1098T is incorrect.

HOW DOES A STUDENT OBTAIN A CORRECTED 1098T?

If you have discovered a discrepancy on the 1098T form please contact Financial Aid Services at 312-542-6290 and a representative will be able to assist you.

WHY DOES ROOSEVELT UNIVERSITY NEED MY SOCIAL SECURITY NUMBER?

As it pertains to the 1098T form, Roosevelt University needs to have the correct social security number for all students that attend the university to comply with the IRS requirements. Every year, as an eligible educational institution, Roosevelt University must report enrollment information for all eligible students in connection with the Hope Scholarship Credit and the Lifetime Learning Credit.

WHAT IF THE SSN/ITIN IS INCORRECT ON MY 1098T?

If the 1098T does not include the correct social security number (SSN), please contact the Registrar so they may correct your student record. Once the SSN is corrected on your student account you may contact Student Accounts for further assistance. A Student Accounts representative will work with CASHNET to have a new 1098T reprinted and refile the information with the IRS.

WHAT IS RU'S TAX IDENTIFICATION NUMBER?

The RU Federal Identification Number is 36-2167854. This number can also be found on the 1098T form in the middle left section.

WHAT IF I STILL HAVE QUESTIONS?

If you have additional questions/concerns please contact the Roosevelt University Call Center at 312-542-6290.