Information about IRS Form 1098-T
Internal Revenue Service (IRS) Form 1098-T is an informational form which enables the tax payer to determine eligibility for one or more education tax credits or deductions. Eligibility for any tax benefit depends upon your individual facts and circumstances. Montgomery College (MC) is required to provide a completed IRS Form 1098-T to enrolled students earning credit hours, for whom the College received payments towards qualified tuition and fees within the calendar year (January 1 through December 31).
- Students whose qualified tuition and related expenses are exceeded by scholarships, grants or third party payments will not receive a 1098-T.
- Students enrolled in Workforce Development and Continuing Education programs will not receive a 1098-T, in accordance with IRS guidance.
- The College cannot provide tax advice, please seek professional tax counseling as deemed appropriate for your facts and circumstances.
- Student Guide to Viewing 1098-T Statements in MyMC (PDF, )
- Frequently Asked Questions about the 1098-T (PDF, )
Montgomery College will need your Social Security Number (SSN) or Individual Tax Identification Number (ITIN) to issue your IRS 1098-T Form. If you have not provided your SSN or TIN to the College, please download the Montgomery College Substitute W9-S Form (PDF, ) and return via one of the delivery methods provided on the form’s instructions. We are required to issue your IRS 1098-T Form even with a blank SSN or ITIN field.
Heartland ECSI is Montgomery College’s third party provider for IRS Form 1098-T. To receive an electronic 1098-T instead of by mail, please consent to the paperless 1098-T option in the Pay My Bill area in MyMCnew window. For directions, refer to: Consent to a Paperless 1098-T (PDF, ) . An electronic version of your 1098-T form will be available in your MyMC account between the end of January and mid-February. See the Student Guide to Viewing 1098-T Statements in MyMC (PDF, ) . Montgomery College and Heartland ECSI will not mail duplicate copies of IRS 1098-T form. You may access your 1098-T form electronically through MyMC or Heartland, which you may download at your convenience. For assistance regarding the 1098-T form, please contact Heartland ECSI at 1-866-428-1098 or go to the Heartland ECSI websitenew window and click on the live chat button to chat with an agent online.
For further information, please refer to IRS publication 970new window and Tax Benefits for Education: Information Centernew window for further information regarding the 1098-T, or consult your tax advisor.
In previous years, your 1098-T included a figure in Box 2 that represented the qualified tuition and related expenses (QTRE) we billed to your student account for the calendar (tax) year. Due to a change to institutional reporting requirements under federal law, beginning with tax year 2018, we will report in Box 1 the amount of QTRE you paid during the year.
Depending on your income (or your family’s income, if you are a dependent), whether you were considered full or half-time enrolled, and the amount of your qualified educational expenses for the year, you may be eligible for a federal education tax credit. (You can find detailed information about claiming education tax credits in IRS Publication 970 (PDF, ) , page 9.)
The dollar amounts reported on your Form 1098-T may assist you in completing IRS Form 8863 – the form used for calculating the education tax credits that a taxpayer may claim as part of your tax return.
Montgomery College is unable to provide you with individual tax advice. If you have questions, you should seek the counsel of an informed tax preparer or adviser.
Below is a blank sample of the 2018 Form 1098-T, that you will receive in late January 2019, for your general reference. Visit the IRS website for more information about Form 1098-Tnew window.