Information Regarding 1098-T Tax Form
1098-T – Tuition Reporting Tax Form
New Reporting Requirement for 2018 Tax Year
· 2018 Tax year - Billed qualified tuition and related expenses (QTRE) will no longer be reported in Box 2. Due to a change in institutional reporting requirements under federal law, beginning with tax year 2018, we will report in Box 1 the amount of QTRE paid during the calendar year. Box 2 will remain blank/will be greyed out.
· Impact to your 2018 Form 1098T - For the tax year ending December 31st, 2018, the amount reported in Box 1 may include your Spring 2018 payments only if the payments were received in 2018. In this instance, due to the reporting changes, the same amount could be reported in Box 2 of your 2017 Form 1098-T (as an amount billed to your student account in 2017) and in Box 1 of your 2018 Form 1098-T (as a received payment in calendar year 2018). CCSF is unable to provide you with individual tax advice, but should you have question, please seek the counsel of an informed tax preparer or adviser.
Frequently Asked Questions
Q: What is the IRS Form 1098-T?
A: The Form 1098-T is intended to help students and families in determining if you are eligible for an Education Tax Credit. 1098-T statements are available on or before January 31st for the prior tax year. It provides the total dollar amount paid by the student for what is referred to as qualified tuition and related expenses (or “QTRE”) in a single tax year.
Q: What is considered as Qualified Tuition and Related Expenses (or “QTRE”)?
A: According to the IRS, qualified expenses are amounts paid for tuition, fees and other related expenses for an eligible student that are required for enrollment or attendance at an eligible educational institution. Please visit https://www.irs.gov/credits-deductions/individuals/qualified-ed-expenses for further information.
Q: When will I receive my Form 1098-T?
A: Your Form 1098-T will be available to you electronically on or before January 31 (or the next business day) through SSB/Web4 (select ‘Student Account’, then ‘Tax Notification’) account unless you requested to receive your 1098-T statement in paper form via the USPS. If you requested a paper form, the 1098-T statement will be mailed to your most recent address on our records.
Q: Why don’t the numbers on Form 1098-T equal the amounts I paid to the CCSF during the year?
A: There are potentially many reasons for this discrepancy. First, the amount in Box 1 only represents the lesser of the amounts paid for QTRE or the amounts charged in a single tax year. Furthermore, QTRE does not include payments made for non-mandatory fees such as insurance, health service fees, or parking which, though important, are not considered mandatory education expenses for tax purposes. Secondly, Form 1098-T reports amounts that the student paid in a certain year, and the pay date does not necessarily correspond to the dates that the classes were attended.
For example, tuition for the Spring semester is typically billed in November so a student may have paid tuition for the Spring semester in 2017 despite the fact that classes didn’t start until 2018.
Q: Does the 1098-T include charges for books?
A: No, the CCSF does not include amounts paid for books in Box 1 of Form 1098-T. You should consult with your tax advisor to determine if payments for books, equipment or fees should be considered when preparing your income tax returns and determining eligibility for education tax credits or deductions.
Q: Why didn’t I receive a 1098-T?
A: There could be a number of reasons, but it could be due to one of the following:
- Your qualified tuition and related expenses were covered entirely by Scholarships/or grants, or an arrangement between us and your employer or some government entity.
- You are not a US resident (you are listed as an international (foreign)student for tax purposes.)
- You received no academic credit for calendar year.
- Your tuition was billed in a different calendar year.
Q: My personal information (name, Address, TIN, SSN...) is incorrect. What should I do?
A: This information was obtained from the information you provided to City College of San Francisco. Please contact the office of Admissions and Records at (415) 239-3285 or visit the office in MUB 188, if any changes need to be made. Once you have submitted the correction(s). Please note that the revised 1098-T will not be available until the appropriate corrections have been processed by Admissions and Records Office.
Reporting to the IRS depends primarily on your SSN or ITIN. It is very important for you to have the correct information on file with City College.
Follow these steps to have a corrected Form 1098-T generated:
Step 1: Complete a W-9s form. You can find the form at https://www.irs.gov/pub/irs-pdf/fw9s.pdf. Please read and complete the form per the instructions and bring it to Admissions and Records in Person. You will also need your Social Security Card or Individual Taxpayer Identification letter (from the IRS) and your student ID (for identification purposes).
Step 2: If you have already corrected your social security number (SSN) or individual taxpayer identification number (ITIN) through Admissions and Records, please contact the Bursar’s Office at (415) 239-3760 to have a new 1098-T be available through SSB/Web4.
Q: Why wasn’t the form mailed?
A: To continue to promote sustainability and paperless processes, you may have chosen to print your 1098-T on WEB4 rather than having it mailed. By consenting to receive an electronic form you will be able to view, print, and save the form via WEB4/Student Portal. Any changes to that option needs to be requested at the Bursar’s Office, Conlan 103, on the Ocean Campus in person.