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1098T Tuition Statement

What is Form 1098-T?

Colleges and universities are required by U.S. law each year to provide each student who is a "US person" for tax purposes with Form 1098-T. This form is to be used by the student to determine eligibility to receive the American Opportunity Credit or Lifetime Learning education tax credits. Please note: receiving Form 1098-T does not necessarily indicate that you are entitled to claim any of the education-related tax credits or deductions.

What should I do with my Form 1098-T?

Form 1098-T should be given to your tax professional to assist in the preparation of your tax returns. If you prepare your own tax returns, you should keep your Form 1098-T in a file with your other tax documents; it does not need to be sent to the IRS with your income tax return.

What fees are reported on Form 1098-T?

Institutions have the option to report the total amount of payments received or the total amount billed for qualified tuition and fees. Regent University has elected to report amounts billed for qualified tuition and related expenses. The IRS defines "qualified" education expenses as tuition and certain related expenses required for enrollment or attendance at an eligible institution.

Where can I go for help in understanding my Form 1098-T?

You may obtain additional information on Form 1098-T and the related tax credits and deductions from the IRS in Publication 970 (Tax Benefits for Education). If you have questions about the specific transactions reported on your student account at Regent, you may view your account details through Genisys or contact the Business Office by e-mail at busoff@regent.edu or by phone at 757.352.4059.

What semesters are included on Form 1098-T?

Regent reports transactions from the Spring, Summer, and Fall semesters that have a transaction date within the reporting tax year (January 1st – December 31st). Please note, the transactions reported on Form 1098-T are those posted to your student account during the calendar year, not academic year. Additional registration or payments that occur with a transaction date after December 31st will be reported in the following year's 1098-T statement.

When will Form 1098-T be available for the current tax year?

If you have signed up to receive your Form 1098-T electronically, you will receive an e-mail when the form is available to view and print on Genisys. If you have not signed up to receive your form electronically, a hard copy will be mailed through the US Postal Service to the student's permanent address on file by January 31st.

What is an Electronic 1098-T and how does it compare to traditional mailing?

Regent University students can choose to receive their IRS Form 1098-T through a secure website (Genisys) to view and print. If a student does not provide their consent for electronic delivery, a paper copy will be mailed to the student's PERMANENT address.

  Electronic Consent Form 1098-T Traditionally Mailed Form 1098-T
What do I need to do?
  • Log onto Genisys through MyRegent Portal.
  • Go to Student Records and then to Electronic 1098-T Program.
  • Choose "Yes," click Submit, and then click Confirm to activate your selection.
  • You can now access your Form 1098-T through the Tax Notification link on the Student Records page of your Genisys account.
  • Verify your PERMANENT address is correct in Genisys.
  • Your Form 1098-T will continue to be mailed to your PERMANENT address using the U.S. Postal Service.
How will I know when my Form 1098-T is ready? You will receive an email when your Form 1098-T is available for you to view and print through Genisys. When you receive it in your mailbox.
When should I expect to receive my Form 1098-T? Providing an exact date is not possible. Forms should be made available online, around January 17th. Paper versions of Form 1098-T will be post-marked by Jan 31st to students not granting consent for electronic delivery. Delivery of paper forms will occur during the 1st week of February.
What if my address is incorrect? Your official Regent University email address will be used to notify you when the Form is available. If your PERMANENT address is incorrect you can change it by logging into Genisys. The address in effect as of December 31st will be used for mailing the form.
What if I didn't receive my Form 1098-T or if I lost it? Not applicable.
Your Form 1098-T will remain available online until your student access to Genisys expires or until you revoke your consent.
You may obtain a duplicate through your Genisys account.
What original Form 1098-T options are available to me? Viewing online or print online at any time. Paper mailed to your PERMANENT address using U.S. Postal Service.
What if I change my mind about the delivery method I chose? You may revoke your consent for electronic delivery at any time. To ensure the delivery method you want is used for the current calendar year issue, update your submission through Genisys by December 31st. You may give your consent for electronic delivery at any time. To ensure the delivery method you want is used for the current calendar year issue, update your submission through Genisys by December 31st.