Student 1098-T tax forms for 2019 will be mailed or available online by Jan. 31, 2020 by TAB Services. TAB Services is the third-party vendor that prints and mails these forms for the college. Our students’ 1098-T forms are available on the TAB secure website at www.tsc1098t.com. Students may access their financial information and print copies of their 1098-Ts for 2017, 2018* and 2019 from this website. Email email@example.com or call 843-574-6804 with additional questions about the amounts reported.
How can students get a copy of their 1098-T Form?
Go to the TAB Services secure website at www.tsc1098t.com to print a copy of your 1098-T form.
Site ID: 11478
Username: 7-digit student ID number (including leading zeros)
Password: last four digits of your SSN**
Why do we send 1098-T forms to our students?
The Internal Revenue Service (IRS) requires eligible colleges and universities to file form 1098-T for each student enrolled for any academic period during calendar year 2019. A college or university is eligible if it qualifies for participation in the Department of Education’s student aid programs. TTC does not file 1098-T forms for continuing education students. This is an allowable exception to the reporting requirement.
What does the student do with this information?
The student, or individual who can claim the student as a dependent on his/her 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 Jan. 1, 2019 and Dec. 31, 2019 on Form 1040. Students should take form 1098-T to their tax preparer or if preparing their own taxes, follow the instructions on Form 8863 Education Credits. In general, the Hope Scholarship Credit and the Lifetime Learning Credit allow taxpayers to claim a nonrefundable credit against their federal income taxes for certain post-secondary educational expenses. There are some factors considered in the calculation of tax credits, such as income limitations, that may disallow the tax credit. For more information about the deduction or credit, students should refer to IRS Pub. 970 Tax Benefits for Education, Form 8863 Education Credits, and the Form 1040 or 1040A instructions. Trident Technical College employees do not give tax advice.
What do the boxes on Form 1098-T mean?
The 2018 1098-T Form reports financial transactions on student accounts for the calendar year Jan. 1, 2019 through Dec. 31, 2019. Please note: if a box is blank, then the amounts required in that box do not apply to TTC.
Box 1 - Amounts paid for qualified tuition and related expenses (spring 2019, summer 2019, or fall 2098; or spring 2020 if paid before Dec. 31, 2019)
Box 2 - Blank
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 made a payment for spring 2020 before Dec. 31, 2019
Box 8 - If checked, means the student was enrolled in at least 6 hours in a term that began during the calendar year (spring 2019, summer 2019 or fall 2019)
Box 9 - Blank
Box 10 - Blank
*There was a change in the reporting method for 2018 1098-T statements. In previous years, the 1098-T included a figure in Box 2 that represented the qualified tuition and related expenses (QTRE) the college billed to a student account for the calendar (tax) year. Due to a change to institutional reporting requirements under federal law, beginning with tax year 2018, the college reports in Box 1 the amount of QTRE paid during the calendar (tax) year. (Jan. 1, 2018 thru Dec. 31, 2018) It is the student’s responsibility to retain payment records (canceled checks, charge slips, etc.) to support the amounts reported on individual tax forms. Students can access statements with this information via the my.tridenttech.edu portal under Student Self Service.
New Information for Tax Year 2018
Beginning in tax year 2018, TTC reports payments received for qualified tuition and related expenses, and no longer reports amounts billed for qualified tuition and fees.
For a payment to be reportable, it must relate to qualified tuition and related expenses billed during the same calendar year.
How are payments for Spring 2018 tuition and fees reported?
If you registered before Jan. 1, 2018, then TTC reported the amounts billed for Spring 2018 last year on the 2017 form 1098T in Box 2. Please consult with your tax advisor and review any tax credits claimed in 2017. No payments are reported on the 2018 form 1098T in this case.
If you registered or added courses after Jan. 1, 2018, then TTC reports the amounts paid on the 2018 form 1098T in Box 1. The total payments reported in Box 1 of the 2018 1098T will equal the amount of the registration or additional billing charged during calendar year 2018.
How do I determine how much was billed for spring 2018, summer 2018 and/or fall 2018?
Log in to the my.tridenttech.edu portal and select "Student Self Service" under TTC Bookmarks OR
Request a statement from BusinessOperations@tridenttech.edu.
How are past due payments reported?
Payments made during 2018 for a semester that occurred before 2018 are not reported.
What is the amount reported in Box 1?
The amount reported in Box 1 is limited to the amount billed during 2018.
For a payment to be reportable, it must relate to qualified tuition and related expenses billed during the same 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.
Were you billed charges for qualified tuition and related expenses between Jan. 1-Dec. 31, 2018? Important Note: Registration charges are billed on the date that you register. If you registered for spring 2018 classes in December 2017, those charges were billed in December 2017, and may have appeared on the 2017 form 1098-T in Box 2, but will not appear on the 2018 form 1098-T.
The amount reported in Box 1 may include scholarships and grants reported in Box 5.
I took classes in 2018, why didn’t I receive a 2018 form 1098-T?
- Does TTC have your valid Taxpayer Identification Number (TIN) issued by the U.S. Government (such as SSN or ITIN) on file?
- Is your address on file with TTC correct?
- Did you make payments for qualified tuition and related expenses between Jan. 1-Dec. 31, 2018?
- Were you billed charges for qualified tuition and related expenses between Jan. 1-Dec. 31, 2018? Important Note: Registration charges are billed on the date that you register. If you registered for spring 2018 classes in December 2017, those charges were billed in December 2017, and may have appeared on the 2017 form 1098-T in Box 2, but will not appear on the 2018 form 1098-T.
- If you are a non-resident alien student and do not have U.S. source income (U.S. scholarships, awards, waivers etc.) that is subject to tax, TTC is exempt from issuing a Form 1098-T to you, unless requested. Requests can be made by sending an email to BusinessOperations@tridenttech.edu.
- After checking all of the above, if you still believe you had reportable transactions in 2018 and are due a 2018 form 1098-T, please email BusinessOperations@tridenttech.edu or call 843-574-6804.
I enrolled in Continuing Education classes, am I eligible for a tax credit?
Please refer to IRS Publication 970 about the possibility of using the Lifetime Learning Credit for these types of classes. TTC does not report Continuing Education class payments on Form 1098-T. Please use your receipt as documentation.