The 1098-T form is used by eligible educational institutions to report information about their students to the IRS as required by the Taxpayer Relief Act of 1997. Eligible educational institutions are required to submit the student’s name, address, taxpayer identification number (TIN), enrollment and academic status. Beginning in tax year 2003, educational institutions must also report amounts to IRS pertaining to qualified tuition and related expenses, as well as scholarships and/or grants, taxable or not. A 1098T form must also be provided to each applicable student.
IRS Form 1098-T Reporting Changes for 2018
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, 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.
Should questions arise, you should seek the counsel of an informed tax preparer or adviser. Georgia Northwestern Technical College is unable to provide you with individual tax advice.
Heartland ECSI is now the 1098-T Vendor for Georgia Northwestern Technical College.
For the 2018 Tax Year, all students who were eligible to receive a 1098-T, those documents were mailed to the address of record in Banner by January 31st, 2019.
Visit Heartland ECSI to obtain your 1098-T document in an electronic format.