IMPORTANT TAX CHANGES FOR THE 2018 1098-T FORM!
IRS regulations now require all Universities and Colleges to report Payments in Box 1. Box 2 reporting is no longer allowed. Due to these changes, all payments for the Fall 2018 Term must be received prior to 8:00 PM MST December 31, 2018.
Payments for past due amounts for previous tax years will not be reported on your 1098-T.
- Payments online may be received up until 8:00 PM MST December 31, 2018 to be included on your 1098-T. We accept checks, debit and credit card (MasterCard, Visa, American Express and Discover).
- Payments from 529 plans and wire payments may take up to seven (7) business days to process once received by MSU Denver’s Cashiering Office.
- Payments by mail or in person must be received by noon on December 21, 2018 as our office closes down for Winter Break. Please consider postal delays during the holiday season.
What is Form 1098-T?
Educational institutions are required to file a Form 1098-T, Tuition Statement, with the IRS and to provide a copy of the form to the student, for each enrolled student for whom there is a reportable transaction. A reportable transaction includes payments received, or refunds made for tuition and related expenses.
Q: What will be reported in Box 1?
A: All forms of Payments towards Qualified Educational Expenses including: loans, grants, scholarships, COF, third party and self-payments, including 529 plans.
Q: How are Student Loans reported on my 1098-T?
A: Student Loans are treated as self-payments, much the same way as credit card payments. While they are reported as a payment in Box 1, they will NOT be reported in Box 5 with other forms of financial aid, COF and third party payments.
Q: Will my 1098-T include payments for prior calendar year terms?
A: No, you do not receive credit on the 1098-T form for prior calendar year term payments made in the current term.
Q: If I made a payment for an upcoming spring term in the previous calendar year will I see it on that 1098-T?
A: Yes, a payment for a future term will appear in the calendar year in which it is paid for. For example, if you pay for Spring 2019 on November 28, 2018, it will appear on your 2018 1098-T as long as there are charges to go against it.
Q: Are all fees considered Qualified Educational Expenses?
A: No, any fees related to living expenses or finance charges are not considered reportable. These include:
- Health Insurance
- Immunization Fee
- Health Services Fee
- Phoenix Center Fee
- Mental Health Fee
- Bus Pass
Any service charges, application fees or collection fees.
Q: Can the Bursar Office help me file my taxes?
A: If you have questions on how to file your taxes, please contact a tax professional as we are not allowed to give tax advice.
MSU Denver e-mails your 1098-T directly to your Student Hub e-mail by January 31st.
Detail for your 1098-T is available electronically through the Student Hub to download and print from your computer.
- Log onto the Student Hub.
- Select "Student Financial Services" Tab
- Click on "Electronic 1098-T"
- Enter Tax Year in the field requesting "Year" and click "Submit"
- Print screen for your personal records
If you have not received your 1098-T e-mail by January 31st, and your 1098-T is unavailable online through the Student Hub, please contact the Office of the Bursar at (303) 615-0070.
To request a paper 1098-T for current tax year:
- Under the "Student Financial Services" Link on the Student Hub, select "Request Paper Copy of 1098-T"
- Read through the information and click "Submit" to affirm that you have read and understand the information provided.
Allow at least one week to receive your 1098-T in the mail.
Viewing or printing old 1098-Ts (2013 or older)
- Log onto tra.vangent.com
- Click on “First Time Students” at the bottom of the page.
- Enter the information required and follow the instruction provided.
Tax Identification Compliance
In order to provide a 1098-T to you for tax purposes, the Internal Revenue Service requires you to provide your Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN) to your school.
BY TAKING NO ACTION AFTER RECEIVING A REQUEST FOR YOUR SSN/ITIN, YOU ARE RISKING BEING ASSESSED A PENALTY FEE BY THE IRS!
If you have already have a SSN or ITIN, you can update your account online through the Student Hub:
- Go to http://www.msudenver.edu/studenthub/
- Click on "Main Menu" button listed under "Web Services".
- Sign in to Student Hub.
- Click on the "Personal Information Menu" tab.
- Select the "Social Security Number Change Information" link.
- Enter SSN/ITIN, then reenter it before clicking on the "update" button.
- System will provide a message verifying SSN/ITIN is updated.
You can also fill out the W-9S Form and either fax, email or hand deliver to the Office of the Bursar.
What if you don’t have a SSN or ITIN?
The 1098-T is reported to the IRS regardless of your visa or immigration status!
Depending on your immigration status you may be eligible to apply for a Social Security Number. To determine your eligibility refer to the Social Security Administration’s publication, Social Security Numbers for Noncitizens.
If you are ineligible to receive a Social Security Number, you may apply for the Individual Taxpayer Identification Number (ITIN).
- International students who have an F-1 or F-2 visa should contact the International Student Support Coordinator, Aubrey Winbigler in International Student Support, via email firstname.lastname@example.org or call (303)605-5685 to inquire about filing requirements for the W-7 Form and verification of immigration documents.
- Non-Resident and Resident Alien students can apply for an ITIN in-person using the services of an IRS-authorized Certified Acceptance Agent or make an appointment at a designed IRS Taxpayer Assistance Center. This will prevent you from having to mail your proof of identity and foreign status documents. After processing, the IRS will issue your ITIN through the mail. You will then file your Form 1040, 1040A, and 1040EZ as directed in the form instructions.
- International, Non-Resident, and Resident Alien Students are required to fill out the W-9S Form, but in the field requesting their SSN or ITIN you must write “APPLIED FOR”.
If you have received a rejection notice for you SSN/ITIN application, please provide a copy to the Bursar Office.
DO NOT PREPARE AND MAIL OUT THE W-7 APPLICATION YOURSELF AS YOU COULD LOSE VALUABLE DOCUMENTS IN THE MAIL!