Tax Information

Tax Benefits for Education

Students may be eligible to receive in the form of credits, deductions, savings plans, scholarships/fellowships or exclusion from income. Currently, there are two education credits available: and the .

1098-T Tax Forms

as described in the Higher Education Act that are eligible to participate in the Department of Education's student aid program are required to file form 1098-T (Student Tuition Statement) with the IRS no later than January 31, if the institution received payment for that were billed to a student in the tax year.

1098-T FORMS ARE POSTED ONLINE (on or about January 20, but no later than January 31)

Current 91��Ƶ may access the form from the Bursars tab in goStockton.

Graduated 91��Ƶ may access the form from the Bursars tab in goStockton.

Former 91��Ƶ (attended but didn't graduate) may access the form from .

Students/parents may use the 1098-T form to determine eligibility for tax credits.

Understanding your 1098-T Form

Currently, institutions have the option of reporting payments received OR amounts billed for qualified tuition and related expenses. Stockton reports amounts (payments) received for qualified tuition and expenses (Box 1). Box 2 will be blank.

Box 1 Amounts Received for Qualified Tuition and Related Expenses	Stockton reports amounts (payments) received for qualified tuition and expenses.
Box 2 Amounts Billed for Qualified Tuition and Related Expenses	The amount of qualified tuition and related expenses billed to a student in the tax year.**
Box 3 Change of Reporting Method Checkbox	This box will be checked ONLY if the reporting method is different from the reporting method in the previous tax year. Stockton continues to report based on qualified tuition and related expenses.
Box 4 Adjustments Made for a Prior Year	An amount will appear ONLY if there were changes to the amount reported for qualified tuition and related expenses for a prior tax year.
Box 5 Scholarships or Grants	An amount will appear ONLY if the student received a scholarship or grant in the reporting year (i.e., Pell Grants, outside scholarships, military benefits, employer provided assistance administered by Stockton).
Box 6 Adjustments to Scholarships or Grants for a Prior Year	An amount will appear ONLY if there were changes to the amount reported for scholarships or grants for a prior tax year.
Box 7 If Amounts in Box 1 or 2 Include Amounts for an Academic Period beginning Jan-Mar in the next year	This box will be checked if the student registered for classes in the tax year, but the classes do not start until January-March in the next tax year.
Box 8 Check if at Least Half-Time Student	This box will be checked if the student was enrolled for at least 6 credits in a term in the tax year.
Box 9 Check if a Graduate Student	This box will be checked if the student was enrolled in a graduate or doctoral program in the tax year.
Box 10 Insurance Contract Reimbursements or Refunds	This box will be blank since Stockton is not an insurer.

**The tax year follows the calendar year (January-December). As a result, the academic year (September-August 2022) runs across two tax years.**

EXAMPLE:
Continuing 91��Ƶ register for Spring 2022 classes (the next tax year) during the pre-registration period that begins in October 2021 (current tax year). Bills are posted in November 2021 (current tax year), but payment is not due (or made) and the course does not begin until January 2022 (the next tax year). As a result, qualified tuition and expenses for the Spring 2022 term will appear on the 1098-T form for 2021 because they were BILLED in the current tax year (November 2021).