What is a 1098-T?
The 1098-T form is a required IRS form to report payments of qualified tuition and related expenses (QTRE). Qualified tuition and related expenses include courses for which you can receive academic credit.
What do I do with it?
Keep it with your tax documents and consult your tax preparer or the IRS website at http://www.irs.gov to determine if you are eligible to take advantage of education tax credits.
For students who had payments for qualified tuition and related expenses (QTRE) during the tax year, a 1098-T form will be made available in the month of January for the prior tax year.
LCCC cannot advise whether or not you qualify for a tax credit.
Questions regarding your 1098-T form?
If you have any questions concerning your 1098-T statement, please contact Bursar’s Office at (440)366-4045.
How to Access Your 1098-T
- Log into MyCampus at https://mycampus.lorainccc.edu
- Click the Student Center link
- Under the “Finances” section dropdown box select, “View 1098-T”
- Click the GO button
- Select the tax year you want to view
- Turn off pop-up blockers
- You may need to “Grant Consent” to view the 1098-T online
- Your 1098-T form will appear for you to view using browser functionality.
- For detailed information about amounts on the 1098-T, click the Box Amounts tab and drill down on the amounts links
Amounts Reported on 1098-T
|Third Party Payments||Yes||Yes|
Why didn’t I receive a 1098-T form for the year?
You may not receive a 1098-T. A few of the reasons are:
- No enrollment hours for the calendar year.
- No payments received for qualified tuition and related expenses during the calendar year.
- Box 5 total (scholarships/grants) is equal to, or greater than, Box 1 total for qualified tuition and related expenses. Generally, students whose qualified tuition and related expenses were paid in their entirety by scholarships/grants are not eligible for education tax credits.
- You had adjustments (registration and/or financial aid) from the prior year.
Once again, LCCC cannot advise whether or not you qualify for a tax credit.