Form 1098-T Tuition Statements
The Internal Revenue Service requires that Mitchell Community College report qualified tuition and expenses and scholarships and grants invoiced or posted to all degree-seeking students’ accounts on Form 1098-T. The 1098-T is an information return that assists students in computing certain education tax credits or deductions for which they may be eligible when they file annual income tax returns.
For tax information, visit the IRS Publication 970 where detailed information is provided about tax benefits for education. For additional information and guidance, contact your professional tax preparer.
Students have instant access to their Form 1098-T Tuition Statement. By providing consent to receive your 1098-T Tuition Statement electronically, you will be able to access and print your 1098-T as soon as it is available and will no longer receive the form in the mail.
Students who would like electronic delivery and instant online access to the 1098-T statement should log in to Self-Service and provide consent using the 1098 Electronic Consent option. This is within the Tax Information tab on the home page.
The College will mail Form 1098-T no later than Jan. 31 to students who do not consent to receive Form 1098-T electronically.
We are required by IRS Section 1.65050S-1 to send Form 1098-T to students for whom qualified tuition and fees were invoiced (or billed) during the calendar year.
Form 1098-T has been provided to assist in determining if you (or an individual who may claim you as a dependent) are eligible to claim an education tax Credit on the income tax return.
There are several possibilities:
1) The IRS does not require us to send you one if your scholarship and aid (including formal billing arrangements with employers, government agencies, etc.) exceeded the invoiced amount.
2) You attended in Spring Semester but you had enrolled and been invoiced in prior calendar year.
3) We do not have a valid United States mailing address or Social Security Number on file for you. Please complete Form W-9S and remit to the Registrar.
4) Your invoiced amounts consisted of only non-credit courses.
5.) You gave consent to opt out of paper delivery of the form using Self-Service.
Your 1098-T form is mailed to the address you provide to the Registrar’s Office. It is up to the student to make sure the correct address is on file. You may also view this form electronically by accessing your self-service account, click on electronic consent and check the appropriate box.
No. By providing consent to view your 1098-T online, you opted out of receiving a paper copy. You can print off the electronic copy at any time. you may also view prior years by giving electronic consent.
The IRS only requires us to send 1098-T forms to students who were enrolled or attended classes during the tax year. If the upcoming spring semester is your first time enrolled or if you did not enroll or attend classes during the last calendar year, you will not receive a 1098-T.
No, but you can access and print a copy of your 1098-T by logging into self-service. The Student Account/Cashier’s Office cannot reprint tax forms. Please update/correct your mailing address with the Registrar’s Office or “opt-out” of paper delivery.
Only qualified tuition and expenses are reported on your 1098-T. Please consult your professional tax adviser with questions regarding “qualified expenses.”
Not necessarily. The College is required to provide Form 1098-T to individuals who were billed for qualified tuition and fees during the calendar year. Please consult your professional tax advisor to make an individual determination.
Please consult your professional tax advisor for additional information.
Please look at the instructions at the top of your 1098T form for box information.
Collection of Social Security Numbers
Mitchell Community College is required to collect a Social Security Number (SSN) or Taxpayer Identification Number (TIN) from all degree-seeking students in accordance with Internal Revenue Service (IRS) regulation §1.6050S-1(e). The IRS also requires the College to notify all degree-seeking students that if they choose not to disclose their SSN or TIN, they may be subject to a $100 penalty imposed on them by Internal Revenue Service. Additional information regarding the IRS requirements may be found under IRS 1098-T Tax Forms.
Students are asked to supply their SSN or TIN to the College accurately on the application for admission and include their legal name as it appears on their Social Security Card or Taxpayer Identification. If you discover the SSN or TIN the College has on file is not correct, notify the Registrar’s Office.