Tax Form 1098-T
Tax Form 1098-T is now available for tax year 2018 and prior years if required. Login to MyCCP, select the Student tab, open the Financial Services link and select Tax notification at the bottom. Enter the Tax Year 2018 to retrieve the most current 1098-T on file. The forms will be made available annually by January 31.
1098-T Frequently Asked Questions
What is a 1098-T anyway?
A 1098-T form is the information return that colleges and universities are required to issue to students and the IRS. Its purpose is to determine a student's potential eligibility for the American Opportunity Credit and Lifetime Learning education tax credits.
How may I obtain a copy of my 1098-T?
Login to MyCCP and in the Financial Services channel, click on the Tax Notification link and enter the year 2018 to retrieve the most current 1098-T on file.
Can I get a copy of last year's 1098-T?
Yes, provided that a form was issued to you. Repeat the steps for accessing the current year form and enter 2017 or another prior year.
Did you send a copy of this form to the IRS?
Yes. Section 6050S of the Internal Revenue Code, as enacted by the Taxpayer Relief Act of 1997, requires institutions to file information returns to assist taxpayers and the Internal Revenue Service in determining eligibility for the American Opportunity Credit and Lifetime Learning education tax credits. The deadline for the College to file the required tax information electronically is April 1, 2019, although data may be transmitted earlier as circumstances allow.
What am I supposed to do with the 1098-T form?
Keep it for your records. Since the College sends your 1098-T information to the IRS, there is no need to attach a copy of the form to your tax return. The information contained in the 1098-T will help you to determine if you may claim the eligible education credits using IRS Form 8863.
The Social Security Number (SSN) on my form is missing or incorrect. What should I do?
Reporting to the IRS depends primarily on your SSN, so it is very important for you to have the correct information on file with the College. If you need to update your SSN, please complete a W-9 form and submit it to Records and Registration at the College as soon as possible so they can update your SSN. After your SSN has been updated, please contact us at email@example.com or at 215-751-8130 to request that we issue an updated 1098-T. Upon receipt of your e-mail, we will provide you with an updated copy within 10 business days.
The W-9 form is available online.
The annual deadline for College to file 1098-T tax information electronically with the IRS is April 1,2019, although data may be transmitted earlier as circumstances allow. Please make sure any updates are completed before March 15, 2019 to promote accurate filing.
The name on my form is incorrect. What should I do?
Your name is a key element of your tax information, so be sure to submit changes to the Office of Records and Registration at the College as soon as possible. After your name has been updated, please contact us at firstname.lastname@example.org or at 215-751-8130 to request that we issue an updated 1098-T.
What does an amount in Box 1 mean?
Box 1 reports the payments made for qualified tuition and related expenses during the calendar year (ex: January 1- December 31, 2018). Scholarships and grants are reported in boxes 1 and 5.
Effective for the 2018 1098-T the College has changed to reporting payments received for qualified tuition and related expenses in accordance with IRS requirements.
How can I ensure that the payment for my Spring 2019 tuition is included on my 2018 1098-T?
Payments can be made online through Monday, December 31, 2018 at 11:30 p.m. In person and mailed payments must be received by 3 PM on Friday, December 21, 2018, before the College closes for Winter Break, in order to be included on the 2018 1098-T. Mailed payments received after this date will be reflected in the payments received for qualified tuition and expenses on your 2019 1098-T.
Why is the payment I made during calendar year 2018 for a past due balance not reflected in the Box 1 calculation?
The past due balance would have been billed in a previous tax year. For tax years 2017 and earlier, the College reported the amount of qualified tuition and related expenses billed to the student on the 1098-T. Balances owed for charges billed prior to January 1, 2018, were already included in the qualified tuition and related expense calculation for a previous tax year.
Why is Box 2 blank on my 2018 1098-T?
In prior years, schools had the option to report the amount of qualified tuition and related expenses billed in Box 2. Due to a change in federal law, beginning with tax year 2018, Community College of Philadelphia will report payments received for qualified tuition and expenses to the IRS. These payments are recorded in Box 1.
What do I do if I used my 2017 1098-T to claim the tax credit based on the tuition billed during last calendar year but didn’t pay until 2018 so the payment is also included in my 2018 1098-T Box 1 payments?
Community College of Philadelphia is unable to provide you with individual tax advice. We recommend that you seek the counsel of an informed tax preparer or adviser.
Why is Box 3 checked on my 2018 1098-T?
Box 3 ("Check if reporting method has changed for 2018") is checked because schools were required to change from Box 2 ("Amounts billed") to Box 1 ("Payments received") reporting for 2018.
Why are Boxes 2, 4, 9 and 10 blank?
These boxes are blank because the information is not applicable to the Community College of Philadelphia (CCP) as the filer of your 1098-T.
- Box 2 is blank because federal law required a transition from Box 2 to Box 1 reporting in 2018. Effective for 2018, CCP will report payments received for qualified tuition and related expenses in Box 1.
- Box 4 is blank for all students in 2018 because 2018 is the first year that CCP will be reporting payments received. As such, there are no adjustments to payments received in the prior years.
- Box 9, Graduate-level courses: since CCP does not offer post-bachelors level courses this box is blank
- Box 10 ("Ins. Contract reimb. /refund") is blank because CCP is not an insurer.
What does an amount in Box 5 mean?
Box 5 ("Scholarships or grants") shows the net amount of certain forms of educational
assistance that were received or applied to your student account during the tax year (January 1 - December 31), regardless of the term for which the funds originally were intended. For example, if you received a Fall 2018 Pell Grant in 2018, the amount of the grant would be added into Box 5. Note that the amount in Box 5 may include fee payments and other credits paid by a third party. Any subsequent adjustments or reductions to educational assistance that occurred in the same tax year are summed into the amount. The net amount is sent to the IRS.
The IRS states that there is "no double benefit allowed." This means that if you pay tuition with certain forms of educational assistance, on which you do not pay taxes, you must reduce any education credit you claim by those amounts. See “No Double Benefit Allowed” " in Chapter 2 (American Opportunity Credit), or “No Double Benefit Allowed" in Chapter 3 (Lifetime Learning Credit) of Publication 970: Tax Benefits for Education for more information. Reportable forms of education assistance are not limited strictly to scholarships and grants, but may include funds received from employers or sponsors.
What does an amount in Box 6 mean?
Box 6 ("Adjustments to Scholarships or grants for a prior year") shows an amount if "scholarships or grants" that were reported on a 1098-T for a prior year were subsequently adjusted or reduced in the current tax year. For example, if you received Fall 2017 Pell Grant in September 2017, it would be reported as "scholarships or grants" on your 1098-T for 2017. If the grant amount later was adjusted or reduced in January 2018, the amount cannot be summed into Box 5. It must be reported separately in Box 6 for tax year 2018.
What does the check mark in Box 7 mean?
Box 7, if checked, indicates that "Payments received" in Box 1 include payments for future tuition related expenses. These payments are for charges billed during the tax year for a term beginning in the first 3 months of the following tax year. At CCP, only payment of Spring registration fees fit into these criteria because fees are due and payable in December of one tax year for instruction beginning in January of the following tax year.
What does the check mark in Box 8 mean?
Box 8, if checked, indicates that you were considered to be "enrolled at least half-time" for one or more terms during the tax year. At CCP, "at least half-time" means that you were enrolled in 6 or more credits for any term.
In order to claim the American Opportunity Credit, a student must be enrolled at least half-time in a program that leads to a degree, certificate, or other recognized educational credential for at least one academic period beginning during the tax year. (See "Who is eligible” in IRS Publication 970: Tax Benefits for Education for more information. Note that a check mark does not guarantee your ability to claim the American Opportunity Credit, as additional eligibility requirements must be met. Also note that the workload requirement does not apply to the Lifetime Learning Credit, which is allowed for any level of enrollment.