How do I read my Form 1098-T?
- Box 1: Payments received for Qualified Tuition and Related Expenses (QTRE) from sources including, but not limited to, cash, check, credit card, scholarships, grants, loans and financial aid.
- Box 1 will report payments made toward QTRE in a calendar year. Parking tickets, transcripts, and books are examples of items not considered qualified education expenses by the IRS, so payments made toward these charges will not be reflected on the 1098-T.
- Box 4 will be populated if there were adjustments for a prior year.
- Box 5 reports the amount of ALL scholarships and grants, as defined by the IRS, disbursed in a calendar year towards the cost of attendance.
- Box 6 reflects adjustment to a previously reported scholarship or grant.
- Box 7 will be checked if you are registered and have been billed for the upcoming spring term.
Students will see Box 1 populated to reflect payments made toward QTRE in the previous calendar year. This was new for 2018. In prior years, Ulster County Community College populated Box 2, charges billed. Because we are now required to populate Box 1, Box 2 is no longer used and is grayed out on the form.