Form 1098-T Information
The Form 1098-T is sent to all students who have qualifying tuition and fees for the calendar year. The 1098-T form will help the student determine if they qualify for a tax education credit. The federal tax code, administered by the Internal Revenue Service (IRS) has provided for a number of education tax benefits. Full information on these tax benefits may be found in IRS Publication 970.
- Casper College will mail all 1098-T’s to students who haven’t opted in for electronic tax forms. They will also be available online through myCCinfo.
- After logging into myCCinfo, click on the “tax information” box on the left-hand side.
- Select your preferred method to receive your 1098-T: “Receive my 1098 only in electronic format” OR “withhold my consent” (paper format).
- Save your selection on the left side, below Options.
- Your selection can be changed at any time by returning to these preferences.
- 1098-T information includes activity from the calendar year. Tuition and scholarships reported on this form include all activity during this time. If a student registered early for Spring semester, this tuition amount is included on your 2017 tax form. All financial aid associated with Spring semester will be reported on your 2018 1098-T.
- Parents, even authorized users, cannot view the 1098-T for their student unless the student specifically authorizes the parent to do so. Enrollment Services or Accounting and Financial Management Office will be happy to assist any student needing to give authorization to a parent.
- Please note that the release of 1098-T information is governed by federal privacy laws (FERPA) and cannot be given to parents or tax preparers without the student’s express authorization.
- “When figuring an education credit or the tuition and fees deduction, use only the amounts you paid and are deemed to have paid during the tax year for qualified education expenses. An institution may choose to report either payments received during the calendar year (Box 1), or amounts billed during the calendar year (Box 2), for qualified education expenses. However, the amounts in Boxes 1 and 2 of Form 1098-T might be different than the amount you actually paid and are deemed to have paid.” (IRS Publication 970)
- The Accounting and Financial Management office is happy to assist students to obtain information needed for tax preparation, but cannot provide tax advice. Please consult the Internal Revenue Service and your tax preparer for assistance in preparing your tax return.
Here is some information on what may be found on the 1098-T form:
Box 2 – Amounts billed for qualified tuition and related expenses:
The IRS defines this as “tuition, fees, and course materials required for a student to be enrolled at or attend an eligible educational institution.” Please note that housing costs and books are not included in this amount.
Box 4 – Adjustments made for a prior year:
If there was a change in enrollment information that created a change in billed tuition after the previous year’s 1098-T was generated, that amount will be recorded here.
Box 5 – Scholarships or grants:
The IRS defines this as “all payments received from 3rd parties (excluding family members and loan proceeds). This includes payments received from governmental and private entities such as the Department of Defense, civic, and religious organizations, and nonprofit entities.”
Box 6 – Adjustments to scholarships or grants for a prior year:
If there was a change in scholarship information that created a change in recorded payments after the previous year’s 1098-T was generated, that amount will be recorded here.
Here are the answers to some common questions:
- Supplemental information giving a breakdown of the numbers reported on the 1098-T, as well as payment information, may be viewed in myCCinfo or you may obtain this information by calling the Accounting and Financial Management office.
- Casper College is required to provide a 1098-T to US citizens enrolled in courses receiving academic credit. Students enrolled in non-credit courses will not receive a 1098-T.
- The IRS requires that Casper College include a valid Social Security number on 1098-T statements. On a regular basis, we will contact students for whom we do not have a SSN to request the number. This request will include IRS form W-9S, on which students can report their SSN (or ITIN if appropriate). Alternatively, students can take their Social Security card to Enrollment Services to have the number entered in our records. Please be advised that IRS regulations include a fine charged to students who fail to supply a SSN when requested to do so by Casper College.
- Box 1 is blank because we do not report payments on the 1098-T. We use Box 2 to report tuition and eligible charges charged to students’ accounts during the calendar year, regardless of the semester start/end dates.
A 1098-T statement in no way suggests that you are eligible for a tax credit. 1098-T statements are for informational purposes only. Please speak with a tax professional or consult the IRS website for more information about whether or not you qualify for a credit.