1098-T Information

IR-2013-22, Feb. 22, 2013: Parents and Students: Check Out College Tax Benefits for 2012 and Years Ahead

As required by the Internal Revenue Service (IRS), Form 1098-T is mailed by Jan. 31 to all students who had qualified tuition and other related educational expenses billed to them during the previous calendar year.

The 1098-T form is informational only and should not be considered as tax advice.  It serves to alert students that they may be eligible for federal income tax education credits such as the Lifetime Learning Credit and the Hope Credit as part of their Federal Income Tax Return.  IRS Publication 970 "Tax Benefits for Higher Education" as well as Chapter 35 of IRS Publication 17 provide additional information on these credits.  While it is a good starting point, the 1098-T, as designed and regulated by the IRS, does not contain all of the information needed to claim a 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.  There is no IRS requirement that you must claim the tuition and fees deduction or an education credit.  Claiming education tax benefits is a voluntary decision for those who may qualify.

What does the 1098-T look like?
Which boxes should be completed and what do they mean?<
Why isn't there an amount in box 1?
What charges are included in "qualified tuition and related expenses" of box 2?
I only have amounts in box 4 adjustments and/or box 6 adjustments, what does that mean?
What are the criteria set by the Internal Revenue Service for receiving a 1098-T form?
Why isn't my spring registration included in the amounts billed for this year's 1098-T?
When will I receive my 1098-T form?
Why didn't I receive a 1098-T form?
Where are the 1098-T forms mailed from?
How can I get a duplicate of my 1098-T?
Am I eligible for a tax credit?
Who do I contact if I have a question about amounts posted in boxes 2 through 10?

Q: What does the 1098-T look like?
A: A sample of the 1098-T is shown on the IRS web site.

Q: Which boxes should be completed and what do they mean?
A: Box 1: not used by MPTC Box 2: amounts billed for qualified tuition and related expenses
Box 3: not checked, reporting method has not changed
Box 4: adjustments made to a prior year's billed qualified tuition and related expenses
Box 5: scholarships or grants, third party payments, and exemptions
Box 6: adjustments made to a prior year's scholarships or grants
Box 7: this box will be checked if the amounts in box 2 include billed amounts for an academic period beginning January - March of the following calendar year
Box 8: this box will be checked if you are enrolled half-time or greater

Q: Why isn't there an amount in box 1?
A: The IRS allows colleges to report either Payments Received (Box 1 on the 1098-T) or Amounts Billed (Box 2 on the 1098-T). Like most schools, the College has elected to report the amounts billed (qualified tuition and related expenses) to the student for the tax year. No amounts will be reported in Box 1 of the 1098-T. Please note that when the Hope Scholarship or Lifetime Learning Credit is taken on the federal income tax return, the calculation of the credit is based on the amount of qualified educational expenses actually paid by the taxpayer during the calendar year. The College reports amounts billed to a student's account. Therefore, the amount you use to calculate your education credit will not necessarily be the same as the amount that appears in Box 2.

Q: What charges are included in box 2, "qualified tuition and related expenses"?
A: Qualified tuition and related expenses are tuition and fees a student must pay to be enrolled at or attend an eligible educational institution.

Q: I only have amounts in box 4 adjustments and/or box 6 adjustments, what does that mean?
A: Adjustment amounts reported in box 4 and box 6, may change any allowable education credit you may have claimed for a prior year. We strongly advise you to seek the advice of a tax consultant for specific information concerning the handling of prior year adjustments.

Q: What are the criteria set by the Internal Revenue Service for receiving a 1098-T form?
A: Institutions are not required to furnish a 1098-T when:

  • Student's scholarship or grants amount (box 5) is greater than their qualified tuition and related fees (box 2)

  • Student's qualified tuition and related expenses are covered by a formal billing arrangement between MPTC and the student's employer or government entity.

  • A student took courses for which no academic credit is offered, even if the student is otherwise enrolled in a degree program.

  • Student is not a resident of the United States. Forms can be provided upon request.

Q: Why is my spring registration included in the amounts billed for my 1098-T?
A: The 1098-T reflects amounts billed on your account within a calendar year. Many students register for spring terms in November or December of the previous year. Registration charges are reported on the 1098-T of the year the charges were billed.

Q: When will I receive my 1098-T form?
A: The 1098-T Tuition Statement is mailed late January to all eligible students with a valid Social Security number on file and an address in the United States. The information is also reported to the Internal Revenue Service.

Q: Why didn't I receive a 1098-T form?
A: You will not receive a form if you do not have a valid social security number on your student record. You may request a 1098-T after filing your social security number at the college. You will need to come to Student Services and complete a Student Records Change form to update your information. You will provide your name, ID, SSN card and sign the form. Student Services will not accept this information over the phone.

A: If your 1098-T was sent to an old or incorrect address. Check your account online to verify we have your correct address.

A: Student's scholarship or grants amount (box 5) is greater than their qualified tuition and related fees (box 2).

A: Student's qualified tuition and related expenses are covered by a formal billing arrangement between MPTC and the student's employer or government entity.

A: Student took courses for which no academic credit is offered, even if the student is otherwise enrolled in a degree program.

A: Student is not a resident of the United States.

Q: Where are the 1098-T forms mailed from?
A: A service provider sends the MPTC 1098-Ts from a central location rather than from individual campuses.

Q: How can I get a duplicate of my 1098-T?
A: Students who require an additional copy of their 1098-T can find it at myMPTC, Student Tab, Student Tools, and My 1098T Information. Students are encouraged to use this to re-print the 1098-T form and to view the supporting detail for boxes 2, 4, 5, and 6.

Students who no longer attend MPTC do still have access to student account information on myMPTC. Go to https://mymptc.morainepark.edu for more information.

All other requests for information will need to be in writing, with a signature, and a copy of a government issued picture ID. This request can be e-mailed with a scanned copy of the ID to afsinfo@morainepark.edu.

Q: Am I eligible for a tax credit?
A: To determine the correct amount, if any, to enter on your tax return, please consult your tax advisor, your personal expense records, and your Student Account Summary on MyMPTC. Employees of Moraine Park Technical College cannot offer assistance with tax form preparation. Please do not contact the college for that purpose.

The responsibility for your individual tax circumstances rests with the taxpayer alone, and Moraine Park Technical College cannot take any responsibility for your interpretation of this information. You are urged to refer to the federal Publication 970 from the IRS.

Q: Who do I contact if I have a question about amounts posted in boxes 2 through 10?
A: You may send an email from your MPTC assigned email address to afsinfo@morainepark.edu. Students who no longer attend MPTC do still have access to student account information on myMPTC.  Go to https://mymptc.morainepark.edu for more information.

All other requests for information will need to be in writing, with a signature, and a copy of a government issued picture ID. This request can be e-mailed with a scanned copy of the ID to afsinfo@morainepark.edu.