Student 1098-T tax forms are now available online. These statements will be mailed by January 31st by ACS Education Services, the third-party vendor that prints and mails these forms for Trident Technical College (TTC). You may access these forms on the ACS secure website at www.1098T.com. You may also access your financial information and print copies of 1098-Ts for 2010 through 2012 from this website. If you have additional questions about the amounts reported, you may call ACS at 1-877-467-3821 or to 843-574-6804 (TTC).
FAQs (frequently asked questions) about 1098-T reporting for your information:
How can I get a copy of my 1098-T Form?
You should go to the ACS Education Services secure website at www.1098T.com. Click on “Student Access,” follow the instructions to set up a password and access financial information. You can print copies of your 1098-T from this site.
Why do we send you a1098-T form?
The Internal Revenue Service (IRS) requires “eligible” colleges and universities to file form 1098-T for each student enrolled for any academic period during each calendar year. (A college or university is “eligible” if it qualifies for participation in the Department of Education’s student aid programs.) We do not file 1098-T forms for continuing education students. This is an allowable exception to the reporting requirement.
What do you do with this information?
Either you, or individual who can claim you as a dependent on their tax return, may be eligible to take either the tuition and fees deduction or claim an educational tax credit for out-of-pocket tuition and related expenses paid between January 1 and December 31 on Form 1040. You should take form 1098-T to your tax preparer or if preparing your own taxes, follow the instructions on Form 8863 Education Credits.
For more information about the deduction or credit, refer to IRS Pub. 970 Tax Benefits for Education, Form 8863 Education Credits, and the Form 1040 or 1040A instructions. TTC offices are not qualified to give students/parent tax advice.
What do the boxes on Form 1098-T mean?
The 1098-T Form reports financial transactions on student accounts for the calendar year January 1 through December 31. Please note: if a box is “blank,” then the amounts required in that box do not apply to TTC.
Box 1* Blank
Box 2* Amounts billed for qualified tuition and related expenses (spring 2012, summer 2012, or fall 2012; or spring 2013 if they enrolled before December 31, 2012)
Box 3 Blank
Box 4 Tuition adjustments (reductions) made for a prior calendar year
Box 5 Scholarships or grants (Pell, Lottery, SCNBG and Scholarships)
Box 6 Scholarship or grant adjustments (reductions) from a prior calendar year
Box 7 If checked, means the student enrolled in spring 2013 before December 31, 2012
Box 8 If checked, means the student was enrolled in at least 6 hours in a term that began during the calendar year (spring 2012, summer 2012 or fall 2012)
Box 9 Blank
Box 10 Blank
* Box 1 is blank because Trident Technical College reports amounts in box 2. Colleges are required to report in either box 1 or box 2. Any activity, such as enrollment changes or financial aid feeds, to student accounts that occurred in January 2013 will be reported on next year's 1098-T.