Updated 10/1/13
1098T FAQs
What is a 1098-T?
The 1098-T form is used by eligible educational institutions to report information about
their students to the IRS as required by the Taxpayer Relief Act of 1997. Eligible
educational institutions are required to submit the student's name, address, taxpayer's
identification number (TIN), enrollment status, amounts pertaining to qualified tuition
and related expenses, and scholarships and/or grants, taxable or not. A 1098-T form must
be provided to each applicable student.
Why did I receive a 1098-T and what am I supposed to do with it?
In January of each year, an IRS Form 1098-T form is made available 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. It serves to alert students that they may be eligible for federal
income tax education credits. Receipt of Form 1098-T does not indicate eligibility for the
tax credit. To determine the amount of qualified tuition and fees paid, and the amount of
scholarships and grants received, a taxpayer should use their own financial records.
Why isn’t there an amount in box 1 payments received?
The IRS instructs institutions to report either payments received (Box 1) or amounts
billed for qualified tuition and related expenses (Box 2) on the 1098-T. TCC reports the
billed amount (Box 2). Therefore, payments received (Box 1) will be blank.
Why does it appear that there is missing information for one or more semesters I
attended during the year reported?
Because TCC reports billed amounts, you may have enrolled (resulting in being billed) in
one calendar year and yet paid in another calendar year. This typically occurs with the
Spring semester when you may have enrolled early during the Fall semester.
Can I receive my 1098T form online?
You may obtain your 1098T electronically for the current and previous years by logging
into TCC WebAdvisor (you will need your password). You will find a 1098T Tax
Information link there. The electronic version is adequate for any report requirements.
You will not receive a mailed copy if you select the electronic form.
Do the "Amounts Billed" figures in Box 2 of my 1098T equal the "Qualified
Expenses" I can claim on my taxes?
Not necessarily. TCC is required to provide the "amounts billed" and "scholarship or
grant” amounts to help you determine the amount of qualified expenses you can claim.
Taxpayers may claim an education tax credit only with respect to qualified tuition and
Updated 10/1/13
related expenses paid (not billed) during the calendar year. You will need to review
your payment records to determine the actual qualified expenses paid. Scholarships
and grants received may reduce your eligible payment amounts. Contact the IRS
(www.irs.gov) or a tax advisor for information on determining your qualified expenses
paid amount.
Can I obtain information about the amounts paid?
Yes, on the same web location for obtaining your electronic 1098T, there is a link
providing payment detail for the calendar year.
What if the address on the 1098T is incorrect?
It is not necessary that the address be correct for your reporting purposes. It is advisable,
though, that you contact the Registrar’s Office on your campus to correct or update
information for accurate communication with TCC.
What if I do not have a social security number or the social security number on the
1098T is incorrect?
TCC will not prepare or report a 1098T without a social security number. If the social
security number is incorrect, please notify the Registrar’s Office on your campus for
correction procedures.
What amounts appear in Box 4 - Adjustments made for a prior year?
This box shows the amount of any tuition and fee reductions in the current calendar year
for charges that were billed in a previous calendar year.
What amounts appear in Box 6 - Adjustments to scholarships or grants for a prior
year?
This box shows the amount of any scholarship or grant reductions in the current calendar
year for aid that was credited in a previous calendar year.
Why is there no check mark in box 8 - at least part-time?
This box is checked if you were half-time or more for at least one term beginning during
the year.
Why are Continuing Education or College for Kids billed amounts not reported on
my 1098T?
TCC does not consider continuing education courses eligible for reporting purposes.
Can I speak to someone directly about my 1098T form?
TCC maintains a 1098T hotline (817-515-1098) which you may call for assistance. You
can speak to someone at the conclusion of general information provided. Be advised that
TCC cannot speak specifically concerning information provided because of privacy laws.