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Tax Information - Form 1098-T

The IRS requires all Educational institutions to prepare form 1098-T for students who were billed for credit courses during the past year. 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.

Educational institutions are required by the IRS to report either the amounts received for tuition and qualified expenses (Box 1) or the amounts billed for qualified tuition and related expenses (Box 2) during the calendar year. Once an institution has selected one of these options, they cannot change reporting methods between calendar years without IRS permission.

Finger Lakes Community College reports the amount billed during the calendar year for qualified tuition and related expenses (Box 2), therefore, Box 1 - Payments Received for Qualified Tuition and Related Expenses, will be blank.

Finger Lakes Community College contracts with an outside agency (ECSI) to process the 1098T forms electronically. ECSI provides a call center for questions about the 1098T tax form. The toll free number to contact ECSI is 1-866-428-1098.

If students have questions specifically regarding their tuition statement and account at FLCC, they can access this information online through WebAdvisor, or contact the One Stop Center at (585) 785-1000.

Please be advised that FLCC is prohibited from providing legal, tax, or accounting advice to students and we are not responsible for any use you make of this information.  Please consult your tax advisor/preparer for assistance.

1098-T Tax Form FAQs

What is the 1098-T form?

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, and taxpayer’s identification number (TIN), enrollment and academic status. Beginning with 2003, educational institutions must also report amounts to the IRS pertaining to qualified tuition and related expenses, as well as scholarships and/or grants, taxable or not. A 1098-T form must also be provided to each applicable student. This form is informational only. It serves to alert students that they may be eligible for federal income tax education credits. It should not be considered as tax opinion or advice. While it is a good starting point, the 1098-T, as designed and regulated by the IRS, does not contain all of the information needed to claim a tax credit. There is no IRS requirement that you must claim the tuition and fees deduction or an education credit. Claiming education tax benefits is a voluntary decision for those who may qualify.

Why did I receive a 1098-T and what am I supposed to do with it?

In late January of each year, ECSI mails an IRS Form 1098-T on behalf of FLCC to all students who had qualified tuition and other related educational expenses billed to them during the previous calendar year. This form is informational only and should not be considered as tax opinion or advice. It serves to alert students that they may be eligible for federal income tax education credits. Receipt of Form 1098-T does not indicate eligibility for the tax credit. To determine the amount of qualified tuition and fees paid, and the amount of scholarships and grants received, a taxpayer should use their own financial records.

NOTE: It is up to each taxpayer to determine eligibility for the credits and how to calculate them.

Did you send a copy of this form to the IRS?

Yes. Section 6050S of the Internal Revenue Code, as enacted by the Taxpayer Relief Act of 1997, requires institutions to file information returns to assist taxpayers and the Internal Revenue Service in determining eligibility for the Hope and Lifetime Learning education tax credits. Forms are mailed at the end of January of each year for the previous tax year.

For more information about qualified educational expenses please go to: www.irs.gov/publications/p17/ch35.html#d0e74760.

Why isn't there an amount in box 1?

The IRS instructs institutions to report either payments received (Box 1) or amounts billed for qualified tuition and related expenses (Box 2) on the 1098-T. Once an institution has selected one of these options, they cannot change reporting methods between calendar years without IRS permission. FLCC reports qualified tuition and related expenses that were billed during the tax year (Box 2) and scholarships and grants, therefore, Box 1 - Payments Received for Qualified Tuition and Related Expenses, will be blank.

What other information do I need to claim the tax credit?

While it is a good starting point, the 1098-T, as designed and regulated by the IRS, does not contain all of the information needed to claim a tax credit. Most of the information needed must come from the student's personal financial records of what the student paid during the calendar year. Additionally, each taxpayer and his or her tax advisor must make the final determination of qualifying expenses.

What are the Hope Credit and the Lifetime Learning Credit and what are allowable tuition and fee tax deductions for each?

For an overview of the Hope Credit, Lifetime Learning Credit, and allowable tuition and fee tax deductions visit www.irs.gov/faqs/faq/0,,id=199791,00.html.

If I pay college tuition and fees with a scholarship, can I claim an education credit on Form 8863 for those payments?

No. You cannot claim a credit for the amount of higher education expenses paid for by tax-free scholarships. For more information, please visit the IRS website.

My address listed on the 1098-T has changed. Will this affect me?

No. The address shown on Form 1098-T is irrelevant for IRS income tax filing purposes. The single most important information on the form is your Social Security Number.

How do I get a reprint of my 1098-T form?

If you did not receive a 1098-T due to a change of address, or you misplaced the form, you can print a duplicate from your WebAdvisor account. For assistance with reprinting a duplicate form from your WebAdvisor account, please contact the One Stop Center at (585)785-1000.  Please be advised that ECSI and FLCC will not mail any duplicates.

What is FLCC Tax Identification Number?

The FLCC Federal Identification Number is 16-1336614. This number can also be found on the 1098-T form in the middle left section.

What if I still have questions?

If you have additional questions/concerns you may reach ECSI at: