Form 1098-T FAQ

The IRS requires all colleges and universities to prepare form 1098-T for students who were billed for credit courses during the calendar year 2007. These students (or their parents) may be eligible to take either a tuition and fee deduction or claim an educational credit on their tax return.

No one at the college will be able to answer questions about taxes. Students (or parents) wondering how to use the information must consult their tax preparer or contact the IRS.

Note:
Some students may have received a 2007 statement with box "9" (graduate student) incorrectly checked. Those students will receive a second, corrected statement.

Q. What is this?

A. The IRS requires all colleges and universities to prepare form 1098-T for students who were billed for credit courses during the calendar year 2006. These students (or their parents) may be eligible to take either a tuition and fee deduction or claim an educational credit on their tax return.

Q. My personal information is inaccurate (name, address, ssn), how do I get it fixed?

A. Call the Enrollment Services office at 607.844.8222, Ext. 4324 or stop in to room 215. We will issue a corrected 1098-T form. But in order to complete this process, you must provide the college documentation to support the change. For example, a social security card would be necessary to make a name or social security number change. Or, if just an address change, an email, fax, or letter to that effect will suffice.

(If you are unable to access this information online, you can request your tuition statements be sent to you via U.S. mail.

Q. I don’t understand what the numbers mean in the boxes on the form, can you help me?

A. On the back of your form 1098-T, there are instructions describing what information is included in each box on the form.

Q. I read the instructions, but I still don’t understand them.

A. Again, you should consult your tax preparer or the IRS. If you need more details about your tuition charges at TC3, you can review your IQ.Web account. Log into IQ.Web, then select from the menu on the left "My Account Balance". From there you will be able to view term specific tuition statements.

Tompkins Cortland Community College

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	Certificate of Residence FACTS TC3 Card Tuition Form 1098-T FAQ	Form 1098-T FAQ The IRS requires all colleges and universities to prepare form 1098-T for students who were billed for credit courses during the calendar year 2007. These students (or their parents) may be eligible to take either a tuition and fee deduction or claim an educational credit on their tax return. No one at the college will be able to answer questions about taxes. Students (or parents) wondering how to use the information must consult their tax preparer or contact the IRS. Note: Some students may have received a 2007 statement with box "9" (graduate student) incorrectly checked. Those students will receive a second, corrected statement. Q. What is this? A. The IRS requires all colleges and universities to prepare form 1098-T for students who were billed for credit courses during the calendar year 2006. These students (or their parents) may be eligible to take either a tuition and fee deduction or claim an educational credit on their tax return. Q. My personal information is inaccurate (name, address, ssn), how do I get it fixed? A. Call the Enrollment Services office at 607.844.8222, Ext. 4324 or stop in to room 215. We will issue a corrected 1098-T form. But in order to complete this process, you must provide the college documentation to support the change. For example, a social security card would be necessary to make a name or social security number change. Or, if just an address change, an email, fax, or letter to that effect will suffice. (If you are unable to access this information online, you can request your tuition statements be sent to you via U.S. mail. Q. I don’t understand what the numbers mean in the boxes on the form, can you help me? A. On the back of your form 1098-T, there are instructions describing what information is included in each box on the form. Q. I read the instructions, but I still don’t understand them. A. Again, you should consult your tax preparer or the IRS. If you need more details about your tuition charges at TC3, you can review your IQ.Web account. Log into IQ.Web, then select from the menu on the left "My Account Balance". From there you will be able to view term specific tuition statements.
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