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Tax Information

1098-T Form

Most Frequently Asked Questions
We recommend that you refer to this information to assist you in understanding who did and did not receive a Form 1098-T. This information must not be construed as tax advice. The amounts and calculations used to determine the credit are the decision of the taxpayer after consideration of relevant IRS regulations, Form 8863, and perhaps, the advice of a tax consultant.

What is Form 1098-T (Tuition Payments Statement)?
We are required by IRS Section 1.65050S-1 to send Form 1098-T to students for whom payments for qualified billed tuition and fees.

Why did I receive Form 1098-T?
Form 1098-T has been provided to assist in determining if you, or the individual, who may claim you as a dependent, are eligible to claim a Hope Scholarship or Lifetime Learning Credit.

If I receive Form 1098-T, does it mean I qualify for the Hope Scholarship or Lifetime Learning Tax Credits?
Not necessarily, the College is required to provide Form 1098-T to individuals who were billed for qualified tuition and fees. Please consult with a qualified tax preparer or CPA to make an individual determination.

How do I determine which expenses will qualify for the Hope Scholarship and Lifetime Learning Credits?
Kaskaskia College can not offer tax advice. Please see your individual tax consultant for additional information.

Where was my form mailed?
Kaskaskia College mailed the 1098-T forms based on addresses provided by the students to the Admissions Office. The order of address priority was: permanent, billing, local, and void (last known).

WhatWhat do the amounts located on the form represent?
  • Box 2 represents the amount of qualified billed tuition at Kaskaskia College.
  • Box 4 represents the total of all scholarships or grants administered and processed by the eligible educational institution. The amount of scholarships or grants for the calendar year (including those not reported by the institution) may reduce the amount of any allowable tuition and fees deduction or the education credit you may claim for the year.
  • Box 8 is only checked if you have been a half time student (6 credit hours) for at least one academic period.
Why does the 1098-T form show billed amounts instead of payments?
The IRS requires Kaskaskia College to choose one reporting method. The College chose to report the amount billed based on computer software issues.r /> What didWhat did I pay for tuition?
Please refer to your canceled checks and credit card statements for this information. If you need more detail, a printout of relevant semesters and payments may be obtained from the Cashier’s Office. You may also review your account details online.r /> What if I didn't get a 1098-T?
If you did not receive a form and should have, please verify that the form was not mailed to another address such as your permanent (parents) address. If not, a photo copy can be made of the original form that was previously sent out.

What if I have further questions?
Kaskaskia College has sent the forms in compliance with IRS guidelines. However, we can not offer any tax advice on this issue. If you have further questions, please utilize the resources at the links below.

For additional information, please consult the following:

IRS Resources:


IRS Website: http://www.irs.ustreas.gov/
This web site is a source of information on frequently asked questions, complete tax forms on-line; publications, ability to provide comments and request help on line.

Tax Fax Service: Receive forms, instructions and tax information from our fax machine by dialing 703-368-9694. Form 8863 to calculate education tax credits and W-7, Application for IRS ITIN are available.

TeleTax Topics: Listen to pre-recorded messages covering tax information by calling: 1-800-829-4477. Topic 605 is Education credits.

Internal Revenue Service: 1-800-829-1040 To obtain tax forms 1-800-829-3676.

Other Relevant Web sites:
http://www.nasfaa.org/AnnualPubs/TaxBenefitsGuide.html
http://www.fs.uci.edu/TRA97/regs/not97-60.htm

The Tax Information WILL NOT provide:
  • Any tax advice or guidance.
  • Corrected or Amended Information Reports unless the College's information was recorded in error.
  • Information on other education credits that were part of the Taxpayer Relief Act of 1997 or subsequent amendments.
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