The information listed below is offered as a guide for students and not intended to provide professional tax advice. If you have questions or need further assistance please contact your tax advisor or the Internal Revenue Service (IRS) at http://www.irs.gov/
Frequently Asked Questions (FAQs) about Form 1098-T:
All eligible educational institutions must file a Form 1098-T to report information to the Internal Revenue Service (IRS) for each qualifying student for whom a reportable transaction is made during the calendar tax year. The 1098-T form that you received is for your use in preparing your federal income tax return. Please note that your 1098-T form may not provide all of the information you need to determine eligibility for tax credits and deductions. Eligibility for any tax benefit depends upon your individual facts and circumstances and the College cannot provide you with any tax advice.
The Form 1098-T will be provided by January 31st of each year for the previous calendar year.
Your accountant, tax preparer, or the Internal Revenue Service can best advise you in the utilization of this form when preparing your taxes.
No, this form is a statement of the amount of enrollment fees charged to your student account in the prior calendar year.
It will include the amount charged for enrollment fees. It includes charges made during the prior calendar year, without regard to the semester the charges apply to. For example, if a charge was processed by the District in December 2016 for the Spring semester beginning January 2017, the charge would be included on the 1098-T form for calendar year 2016.
Students must make all information requests. The student is responsible for providing information to other parties in accordance with FERPA (Family Education Right to Privacy Act).
Yes, you can access your 1098-T online:
- Login to WWW.1098-t.com
- Select the option to “Access My Record”. You will be prompted through a series of steps validating personal information
- Once securing logged into your personal account, a link is provided to receive forms electronically. A pop up window will also remind you to take advantage of this option. Please read the information thoroughly and provide a current and valid e-mail address when prompted.
- Upon creation of the 2016 1098-T form, you will receive an e-mail notifying you that the form is available on http://www.1098-t.com/. You can print a copy for yourself, your parents, and your tax advisor.
If you cannot access your 1098T online, then please call TCRS customer service at 877-467-3821.
According to the IRS rules, educational institutions are not required to file Form 1098-T or furnish a statement for:
- Courses for which no academic credit is offered, even if the student is otherwise enrolled in a degree program;
- Nonresident alien students, unless requested by the student;
- Students whose qualified tuition and related expenses are entirely waived or paid entirely with scholarships and grants;
- Students whose qualified tuition and related expenses are covered by a formal billing arrangement between the institution and the student’s employer or a governmental entity, such as the Department of Veterans Affairs or the Department of Defense.
For tax information or if you have additional questions or concerns please consult your tax advisor or contact the Internal Revenue Service Center. Visit the IRS website at http://www.irs.gov/