What does the check mark in Box 7 mean?
Box 7, if checked, indicates that "payments received" in Box 1 include "Pre-paid Regular Session Fees" and/or "Pre-paid University Extension Fees.""Pre-paid" fees are those paid during the tax year for a quarter beginning in the first 3 months of the following tax year. At UCSB, only Winter quarter registration fees fit into these criteria, because fees are due and payable in December of one tax year for instruction beginning in January of the following tax year. Spring quarter registration fees are never considered "pre-paid," because fees are always due and payable in the same tax year as instruction begins. "Expenses That Do Not Qualify," such as student health insurance, are not included in the amount of "Pre-paid Regular Session Fees."
On the reverse of the student copy of your 1098-T, you will find the "financial supplement," providing more detailed information. Part 1 "Payments Received for Tuition and Related Expenses," displays your payments broken down into the following expense categories (if applicable):
- Regular Session Fees
- Pre-paid Regular Session Fees
- Course Materials Fees
- Summer Session Fees
- University Extension Fees
- Pre-paid University Extension Fees
Access your record at UCSB's Tax Credit Reporting Service (TCRS) http://www.1098t.com/ to view and print copies of your 1098-T and "financial supplement." Also at this web site, the expense categories in Part 1 are linked to more information. For example, just click on a link for "Pre-paid Regular Session Fees," and you will see the details (dates, descriptions, amounts) for ll transactions that were compiled into that category, such as: