Home » Pay for College » Tuition & Payment » 1098-T Tax Forms


1098-T Tax Forms

Student 1098-T tax forms are currently available online and will be mailed soon by ACS Education Services. ACS Education Services is the third-party vendor that prints and mails these forms for the college. Our students’ 1098-T forms are available on the ACS secure website at www.1098T.com. Students may access their financial information and print copies of their 1098-Ts for 2014 through 2016 from this website. Call 843.574.6804 with additional questions about the amounts reported.

FAQs

How can students get a copy of their 1098-T Form?

Go to the ACS Education Services secure website at www.1098T.com. Click on Student Access and follow the instructions to set up a password and access financial information. Students can print copies of their 1098-T from this site.

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 2016. 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, 2016 and Dec. 31, 2016 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 2016 1098-T Form reports financial transactions on student accounts for the calendar year Jan. 1, 2016 through Dec. 31, 2016. 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 2016, summer 2016, or fall 2016; or spring 2017 if enrolled before Dec. 31, 2016)
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 2017 before Dec. 31, 2016
Box 8 - If checked, means the student was enrolled in at least 6 hours in a term that began during the calendar year (spring 2016, summer 2016 or fall 2016)
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 2017 will be reported on next year's 1098-T. 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.