What is the IRS Form 1098-T?
A college or university that received qualified tuition and related expenses on your behalf is required to file Form 1098-T with the Internal Revenue Service (IRS). Educational institutions are required to file and furnish a Form 1098-T to students whose payments for qualified billed tuition and related expenses were received in the calendar year. The information being reported to the IRS verifies your enrollment with regard to certain eligibility criteria for the American Opportunity Tax Credit, the Lifetime Learning Tax Credit, and the Higher Education Tuition and Fees Deduction. However, the enrollment information by itself does not establish eligibility for either credit or deduction.
1098-T Information
The amount shown in Box 1 of your 1098-T represents the total amount of payments received for qualified tuition and related expenses from all sources during the calendar year. The amount reported is the total amount of payments received, less any reimbursements or refunds made during the calendar year that relate to the payments received for qualified tuition and related expenses during the same calendar year. The amount reported is not reduced by scholarships and grants reported in box 5.
The amount listed in Box 4 of your 1098-T reflects adjustments made for a prior year to Payments received and/or amounts billed. Payments received may be reimbursements or refunds of qualified tuition and related expenses made in the current calendar year that relate to payments received that were reported for any prior year. Amounts billed may be reductions in charges made for qualified tuition and related expenses made during the calendar year that relate to amounts billed that were reported for any prior year.
The amount listed in Box 5 of your 1098-T reflects the amount of scholarships, sponsorships, and grants applied to your account during the calendar year.
Your 1098-T
Your 1098-T is available on the ECSI website with the login and password information located on your 1098-T received in the mail. If you did not receive your 1098-T in the mail, please call ECSI at 1-866-428-1098 to obtain your login and password information.
Additional Information
FREQUENTLY ASKED QUESTIONS
The South Dakota Public Universities have contracted with Heartland ECSI to print, mail, and store your 1098-T online. Since 1972, Heartland ECSI has provided clients with intuitive, user-friendly software and solutions. Heartland ECSI provides customer service through a 1-800 phone service and offers live chat to assist in answering any questions. Heartland ECSI will be mailing you a copy of your 1098-T before January 31.
University Contact Information
Email: BHSU1098T@bhsu.edu
Phone: (605) 642-6512
Email: cashier@dsu.edu
Phone: (605) 256-5271