1098-T Frequently Asked Questions
Q: What is the IRS Form 1098-T?
A: Form 1098-T is a statement that colleges and universities are required to issue to certain students. It provides the total dollar amount paid by the student for what is referred to as qualified tuition and related expenses (or “QTRE”) in a single tax year.
Q: When will I receive my Form 1098-T?
A: Your Form 1098-T will be available to you electronically or by mail, on or before January 31 (or the next business day). If no action is taken by the student to request an electronic 1098-T from ECSI, then a paper copy will be mailed. If you do not receive your 1098-T you can print it via the ECSI website https://heartland.ecsi.net/.
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Q: Why don’t the numbers on Form 1098-T equal the amounts I paid to CCBC during the year?
A: There are potentially many reasons for this discrepancy. First, the amount in Box 1 only represents amounts paid for qualified tuition and related expenses (QTRE) and does not include payments made for room and board, insurance, health service fees, or parking which, though important, are not considered mandatory education expenses for tax purposes. Secondly, Form 1098-T reports amounts that the student paid in a certain year, and the pay date does not necessarily correspond to the dates that the classes were attended. For example, tuition for the Spring semester is typically billed in November so a student may have paid tuition for the Spring semester in 2021 despite the fact that classes didn’t start until 2022. The best and most accurate source of information about the amounts that you paid for qualified tuition and related expenses will be your Fee Bills.
Q: Does the 1098-T include charges for books?
A: No, the College does not include amounts paid for books in Box 2 of Form 1098-T. You should consult with your tax advisor to determine if payments for books, equipment, or fees should be considered when preparing your income tax returns and determining eligibility for education tax credits or deductions.
Q: What semesters are included in my Form 1098-T?
A: Typically, charges are posted to your student account in November for the Spring semester and in June for the Fall semester. Box 1 of Form 1098-T reflects payments made during the calendar year for qualified tuition and related expenses and it is not based on when the classes were attended or billed to the student account. Your Term Fee Bills will show the dates payments were posted to your account and are a valuable resource for determining the semesters that are included in your Form 1098-T. You can access your Term Fee Bills in the Finance section under Student Homepage in the Student Administration System.
Q: I graduated in May of 2021, do I have a Form 1098-T for 2021?
A: Some May 2021 graduates will not be issued a 2021 Form 1098-T because there is a possibility that payments for QTRE for Spring 2021 was made on or before December 31, 2020. The 2021 Spring semester tuition charges were generally billed and posted in November 2020 and, therefore, would have been included on the 2020 Form 1098-T, in Box 2. If a student paid for the Spring 2018 semester and any other outstanding QTRE charges in 2020, then the student would not receive a 2021 Form 1098-T.
Q: How do I prepare my tax returns without a Form 1098-T?
A: Form 1098-T reports payments received from the student for qualified tuition and related expenses (Box 1) during the preceding calendar year. However, if the student receives scholarships, grants and/or fellowships in the preceding year in excess of the amounts they paid in QTRE, the College is not required to issue a Form 1098-T to the student. When determining your eligibility for education-related tax credits and deductions, you will need to report the amount you paid for qualified education and related expenses. Therefore, your Term Fee Bills will be the best and most accurate source of information for amounts paid for qualified education and related expenses. This is true regardless of whether you receive a Form 1098-T or not.
Q: My accountant says that the College must provide me with a Form 1098-T.
A: The College is not required, by the IRS, to furnish a Form 1098-T in the following instances:
- Payments for courses for which no academic credit is offered, even if the student is otherwise enrolled in a degree program.
- Enrolled student is a nonresident alien unless requested by the student.
- Students whose qualified tuition and related expenses are entirely waived or paid entirely with grants/scholarships.
- Students for whom you do not maintain a separate financial account and whose qualified tuition and related expenses are covered by a formal billing arrangement between an institution and the student's employer or a governmental entity, such as the Department of Veterans Affairs or the Department of Defense.
Q: My SSN is wrong on my Form 1098-T. Can I have a new one sent to me?
A: If your SSN is incorrect, you will need to complete a new W-9 form and deliver it in person or via fax to the Cashier’s Office at 724-480-3364 or email@example.com.
Q: I don’t understand what I’m supposed to do with this Form 1098-T. HELP!