Tax Form 1098-T
Tax Form 1098-T is now available for tax year 2023 and prior years if required. Log in to MyCCP, click on "Student Services" in the left menu, click on "Financial Services" and click on 1098-T Tax Notification. Enter the Tax Year 2023 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?
Log in to MyCCP, click on "Student Services" in the left menu, click on "Financial Services" and click on 1098-T Tax Notification. Enter the Tax Year 2023 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 2022 or another prior year.
If I didn't complete the electronic consent form, how will I receive my 1098-T?
The 1098-T form will still be available to you electronically, even if you did not complete the consent form. If we are required to produce a form for you and you did not provide electronic consent, we will also mail the form to you. If you do not need to receive a copy by mail, please complete the 1098-T Electronic Consent form by logging in to MyCCP, clicking on "Student Services" in the left menu, clicking on "Financial Services" and clicking on 1098-T Electronic Consent.
Why can't I update the Electronic Consent form?
You cannot edit the 1098-T Electronic Consent form between January 5 and March 31 annually. Please return to the form on or after April 1.
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 March 31, 2024, 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, log in to MyCCP, click on "Student Services," click on "Records & Registration Forms" in the "Electronic Forms" menu, then click on "Change of Information" and follow the instructions. After you’ve been notified your SSN has been updated, please contact us at email@example.com 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 March 31, although data may be transmitted earlier as circumstances allow. Please make sure any updates are completed before March 31, 2024 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. Log in to MyCCP, click on "Student Services," click on "Records & Registration Forms" in the "Electronic Forms" menu, then click on "Change of Information" and follow the instructions. After you’ve been notified your name has been updated, please contact us at firstname.lastname@example.org to request that we issue an updated 1098-T. Upon receipt of your email, we will provide you with an updated copy within 10 business days.
The annual deadline for College to file 1098-T tax information electronically with the IRS is March 31, although data may be transmitted earlier as circumstances allow. Please make sure any updates are completed before March 31 to promote accurate filing.
Why are my VA or employer payments reported as Scholarships and Grants?
The IRS instructions for Box 5 state, "Scholarships and grants generally include all payments received from third parties (excluding family members and loan proceeds). This includes payments received from governmental and private entities such as the Department of Veterans Affairs, the Department of Defense, civic and religious organizations, and nonprofit entities"
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, 2023). Scholarships and grants are reported in boxes 1 and 5.
How can I ensure that the payment for my Spring 2024 tuition is included on my 2023 1098-T?
Payments can be made online through Sunday, December 31, 2023, at 11:30 p.m. In person and mailed payments must be received by 5 p.m. on Thursday, December 21, 2023, before the College closes for Winter Break, in order to be included on the 2021 1098-T. Mailed payments received after this date will be reflected in the payments received for qualified tuition and expenses on your 2023 1098-T.
Why are Boxes 2, 3, 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 2023. CCP will report payments received for qualified tuition and related expenses in Box 1.
- Box 3 was last used by the IRS in tax year 2023, when schools were required to report that they changed reporting methods from Box 2 to Box 1 reporting. There is nothing to report in Box 3 this year.
- Box 9, Graduate-level courses: since CCP does not offer post-bachelors level courses this box is left 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). 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 2023 Pell Grant in September 2023, it would be reported as "scholarships or grants" on your 1098-T for 2023. If the grant amount later was adjusted or reduced in January 2023, the amount cannot be summed into Box 5. It must be reported separately in Box 6 for tax year 2023.
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.