The IRS allows universities to report either payments received (box 1 on the 1098-T) or amounts billed (box 2 on the 1098-T) to students for the tax year. USC has elected to complete box 2, which includes qualified tuition and related expenses. As a result, nothing will be reported in box 1.
If you pre-registered for the current spring semester in the fall semester of the last calendar year, the related charges will be included in box 2.
If you registered for Spring 2017 classes in the Fall 2016 semester (as part of pre-registration), those charges will be reflected as part of the box 2 amount in your 2016 1098-T.
Box 2 of the 1098-T includes all qualified items that were actually billed during the calendar year. Information will be reported in boxes 2 through 10 of the 1098-T only if they pertained to you during that particular calendar year.
When to Consult a Tax Professional
If you have questions about whether you qualify for tax relief opportunities, please consult a tax professional. The university is prohibited from offering any tax advice, and will not offer any explanations related to eligibility requirements and/or calculation for allowable education tax credit or tuition and fees deduction. You, as the student, are responsible for making the final decision for determining your own eligible educational expenses.
IRS Online Resources
There are many sources of related information available through the IRS that students may find helpful in determining eligibility and preparing your tax return including:
If you have any questions regarding amounts posted in boxes 2 through 10 on the 1098-T or require copies of billing statements, please contact us:
E-mail: firstname.lastname@example.org (send from your USC-assigned e-mail address)