1098-T Student Notification
What is a 1098-T form?
Eligible educational institutions file Form 1098-T to report qualified tuition and related expenses (QTRE) for enrolled students as required by the Internal Revenue Service (IRS). Depending on the student’s (or the student’s family) income, whether full or half-time enrolled, the student may be eligible for a federal education tax credit depending on the amount of their qualified educational expenses for the year. For information about claiming education tax credits, please reference https://www.irs.gov/pub/irs-pdf/p970.pdf.
Institutional Reporting Requirement Change Effective 2018
Until recently, the IRS allowed colleges and universities to choose between two reporting methods for reporting qualified tuition and related expenses (QTRE).
New legislation now requires colleges and universities to report payments received for qualified tuition and related expenses (QTRE), rather than the amount billed.
Beginning with tax year 2018, institutions must report in Box 1 (1098-T form) the amount of qualified tuition and related expenses (QTRE) paid during the calendar year.
Transition Year Impact
One impact of this change is if the student registered for Winter 2018 in 2017 and paid in 2018 the same amount could be reported in 2017 (as a charged amount) and in 2018 (as a received payment) because of the reporting method change. The 1098-T should be used in conjunction with the student’s own payment records when completing their tax return.
Mount San Antonio College is unable to provide students with tax advice. Students should seek the counsel of an informed tax preparer or adviser if they have any questions.
For more information about Form 1098-T, visit https://www.irs.gov/forms-pubs/about-form-1098-t .
Print 1098-T form
The 1098-T form for 2020 is now available through your Mt. Sac student portal, Student Self-Service Link #29 – Tax Notification. Please note, the college has contracted with Maximus Federal Services, Inc. to mail a paper copy of the 1098-T form to your mailing address on file with the college. 1098-T forms are mailed to students that qualify for a 1098-T each year on or before January 31.
If you have any questions, please contact the Cashier's Office at (909) 274-4960.