1098T Information

1098-T Tax Information for Students

The Internal Revenue Service requires that the University of Lynchburg report payments received for qualified tuition and expenses, as well as scholarships and grants invoiced or posted to student accounts, on Form 1098-T. The 1098-T is an information return that helps students calculate certain education tax credits or deductions for which they may be eligible when filing their annual income tax returns.

If you would like to receive your 1098-T form electronically, please give your consent by following the link. 1098-Ts will be provided by the end of January. If electronic consent is not received by Jan. 2, the 1098-T will be mailed to the current address on file.

The benefits of receiving electronic notification are:

Online delivery provides access to the Form 1098-T 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 the student receives it.
Signing up for online delivery is easy and secure.
Students can receive their 1098-T form while traveling or away from their home address.

How to Retrieve Your 1098-T Form

For students who elect to receive their 1098-T electronically, they can log in to their MyHive portal and select “Tax Information” from the main dashboard. If you do not elect to receive your 1098-T electronically, your physical return will be mailed to the address on file.

University of Lynchburg is unable to provide individual tax advice, so if you have questions, you should seek an informed tax adviser for specific information. If you did not receive a 1098-T form either via mail or electronically and believe you qualify to receive one from the University of Lynchburg, please don’t hesitate to contact the Solutions Center at 434.544.8210.

The University of Lynchburg is required to collect Social Security Numbers or Taxpayer Identification Numbers from all degree-seeking students in accordance with Internal Revenue Service regulation 1.6050S-1. The IRS also requires the University to notify students that if they choose not to disclose their SSN or TIN, they may personally be subject to a $100 penalty imposed by the IRS. Additional information regarding IRS requirements can be found in the IRS 1098-T form publication.

Students are asked to supply their SSN or TIN to the University accurately on the admissions application and include their legal name as it appears on the Social Security Card or Taxpayer Identification. If the SSN or TIN that the University has on file is not correct, please notify the Registrar’s Office immediately.

Frequently Asked Questions

What is Form 1098-T?

The IRS requires us to provide Form 1098-T to students for whom qualified tuition and fees were paid during the calendar year.

Why did I receive Form 1098-T?

Form 1098-T has been provided to assist the taxpayer in determining if you, the individual, or someone who may claim you as a dependent, are eligible to claim a Lifetime Learning Credit on the income tax return.

Why did I NOT receive Form 1098-T?

There are several possibilities:

The IRS does not require us to send one if your scholarship and aid exceeded the invoiced amount.
We do not have a valid United States mailing address or Social Security Number on file for you. Please complete Form W-9S and remit it to the Solutions Center ([email protected]).
Your invoiced amounts consisted of only non-credit courses.

You accessed your 1098-T form via your MyHive portal and opted out of receiving a paper form in the mail.

Where was my form mailed?

Your 1098-T form will be mailed (if applicable) based on the address provided by the student to the Registrar’s Office.

Is the 1098-T form printed from my MyHive portal valid for the IRS?

Absolutely. The 1098-T form from your MyHive portal is an IRS-approved substitute.

What about room and board and books? Why are these fees not included in the amount billed?

Only qualified tuition and related expenses are reported on your 1098-T. Please consult your professional tax advisor with questions regarding “qualified expenses”.

What do amounts on the form represent?

Box 1 includes payments made towards qualified expenses during the calendar year. Box 5 shows the total of all scholarships or grants administered and processed by the College. The amount of scholarships or grants for the calendar year (including those not reported by the institution) may reduce the amount of the education credit you claim for the year. Box 8 is checked if you are considered to be carrying at least one-half of the normal full-time workload for your course of study.

When is the 1098-T form typically mailed out?

Institutions are required to mail or provide access to the 1098-T form by January 31^st of the year following the tax year it covers (i.e., January 31, 2025, for the 2024 tax year).