The Form 1098-T, Tuition Statement, is intended to assist you in the preparation of your federal income tax return. By January 31 of the following year, the College will prepare and send an IRS Form 1098-T to all students who had qualified tuition and other related educational expenses billed to them during the previous calendar year. This form is informational only and should not be considered as tax opinion or advice. Your accountant, tax preparer, or the Internal Revenue Service (IRS) can best advise you in the utilization of this form when preparing your taxes.
Changes to your 1098-T form for 2018
The College will no longer report the amount billed for qualified tuition and related expenses in box number 2 on the 1098-T form. The College will now report payments made for qualified tuition and related expenses during the tax year, in box number 1 on the 1098-T form.
Box number 1 will include the total amount of payments received for qualified tuition and related expenses from all sources during the calendar year. The amount reported is the total amount of payments received less any reimbursements or refunds made during the calendar year that relate to the payments received for qualified tuition and related expenses during the same calendar year. The amount reported is not reduced by scholarships and grants reported in box 5.
Receiving the 1098-T
The forms will be mailed by January 31 to the home address we have on file. You can also receive and print the 1098-T electronically as well as opt-out of the mailed version in Self-Service.