Form 1098-T Requirements
Beginning with tax year 2018, colleges and universities are required to report the amount of qualified tuition and related expenses (QTRE) you paid during the 2018 calendar year in Box 1 of the IRS 1098-T Form. In previous years, most colleges, including the University of Hartford, reported dollar amounts in Box 2 representing the QTRE the College billed to your student account for the calendar (tax) reporting year. Under this new federal law, the College must now report the amount of QTRE you paid during the 2018 calendar year in Box 1 of the 1098-T form instead of reporting in Box 2.
Depending on a variety of factors, including income, enrollment, and the amount of your QTRE, you may be eligible for a federal education tax credit. The dollar amounts reported on your 1098-T Form may be used in conjunction with your own payment records to assist you in completing the necessary form for the educational tax credit. Please be advised that the University of Hartford is unable to provide you with individual tax advice. You can find detailed information about claiming education tax credits in IRS Publication 970, page 9 or by contacting a tax professional.
The IRS works only with social security number (SSN) and taxpayer identification numbers (TINs) and requires we obtain this information prior to processing student 1098-T tax statements. The University sends a request for information to students who do not have a SSN or TIN number already on file. Students who do not comply with this request could receive a $100 penalty imposed by the IRS. Letters and W-9S forms are sent to the address on file with the University by November 1st of each year. If you receive a W-9S form please complete “Part I” of this form and return it to the Bursar’s Office by November 30, 2023 to insure the IRS can properly match the information from the University of Hartford to your tax filing.
Please note that the University of Hartford is not required to furnish a 1098-T for students who took courses for no academic credit, are nonresident alien students, unless requested, and for those students whose qualified tuition and fees are completely paid through scholarships or by a third party.
View and Print Form 1098-T from Prior Years:
- Go to Self-Service
- Click on Secure Login for Students
- Enter your User ID and PIN
- Click on Student Main Menu
- Click on Student Financial Records
- Click on View & Print 1098-T Tax Statement
To change your delivery option, follow steps 1 through 5 above and then click on Electronic 1098-T Delivery Option. Please note that if you change your delivery option after December 31, your change will not take effect until the following year.
Form 8300 Cash Transaction Reporting
Generally, the University is required to report to the IRS the receipt of cash in excess of $10,000 in a single transaction (or two or more related transactions) that is received in the course of the University’s trade or business.
Please refer to IRS Publication 1544 for information on reportable transactions.
Form 8300, Report of Cash Payments Over $10,000 Received in a Trade or Business, must be filed with the IRS for each reportable transaction by the 15th day subsequent to the transaction.
If you have any questions regarding this federal reporting requirement or the referenced documents, please contact the University Bursar Office at 860.768.4360.