UNIVERSITY PARK, Pa. — With tax season rapidly approaching, Penn State students should be aware of a change in their 1098-T — the tax reporting form related to tuition payments — for the 2016 tax year. The form and instructions will be available this week on students’ account dashboards in LionPATH.

With last year’s implementation and transition to LionPATH, the University’s new student record management system, there is a one-time reporting adjustment for the 2016 tax year to how the University reports tuition billing on the 1098-T form. Tuition billing data appears in Box 2 of the 1098-T, “Amount billed for qualified tuition and related expenses.”

For the 2016 tax year only, the data reported to students will be for four semesters, as applicable – spring 2016, summer 2016, fall 2016 and spring 2017 – rather than three semesters, as it had been in previous years.

For information on how to view and print your 1098-T form, visit the online tutorial at: https://tutorials.lionpath.psu.edu/public/1098T/. Students who either only attended Penn State during the spring 2016 semester, or didn't have transactions posted to their account after July 23, 2016, will not have access to the electronic 1098-T. These students and those who have requested printed forms to be mailed to them will receive them in the next few weeks; Penn State releases 1098-T forms to students by January 31, as federally required.

IRS tax form instructions provide that education credits and deductions for a taxpayer’s 2016 individual tax return are based upon qualified educational expenses paid during the 2016 calendar year, as opposed to tuition billings reported on the form 1098-T.

Penn State cannot provide individual tax advice; you should always consult your tax adviser with any tax questions.  

For additional information, visit http://www.bursar.psu.edu/form1098t.cfm.