Student Tax Information

LAST UPDATED: July 30, 2014

What You Should Know

Here you’ll find general information about tax reporting, exemptions, and educational tax credits. Your residency status determines how you are taxed. U.S. citizens, resident aliens, and nonresident aliens are taxed differently.

Tax Reporting for Students who are U.S. Citizens & Students Taxed as Resident Aliens

The Internal Revenue Service (IRS) requires the University to file an annual tuition statement, Form 1098-T, for each student pursuing a degree who has reportable transactions. Reportable transactions include tuition, student activity fees, and any scholarships or grants you received during the calendar year.

Each January, a copy of your 1098-T is mailed to you. You may also receive one or more IRS Form 1099, reporting the amounts of other forms of taxable income.

If you receive income from a scholarship or fellowship, see Scholarships & Fellowships for more information about taxability and reporting.

If you work for Princeton University while going to school, see Payroll Taxes.

Educational Tax Credits

The information on your 1098-T can help you determine whether or not you are eligible for Education Tax Credits. For information about eligibility for these and other federal tax benefits for students, see IRS Publication 970, Tax Benefits for Higher Education.

Tax Reporting for Students Taxed as Foreign Nationals (Nonresident Aliens)

Princeton University uses the Glacier system, a Nonresident Alien Tax Compliance System, to help determine your tax status while you are going to school in the U.S. and whether or not a tax treaty covers the types of payments made to you as a student.

Taxable payments made to you may be subject to U.S. federal tax withholding and reported on Form 1042-S. If you received taxable payments, you will receive your Form 1042-S by March 15 following the end of the calendar year.

Payments are subject to 30% tax withholding unless you have completed treaty documentation on the Glacier system and are eligible for treaty benefits. For students holding F, J, M or Q visas and who are scholarship or fellowship recipients, federal tax withholding will not exceed 14%.

If you need a duplicate 1042-S Form, see How to Request a Duplicate 1042-S Form Step-by-Step.

See Scholarships & Fellowships for more information about taxability and reporting of scholarship and fellowship income as well as possible tax treaty benefits.

If you work for the University while going to school at Princeton, see International & Foreign Employee Payroll.


 

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