IRS-1098-t Statement Information
IMPORTANT INFORMATION FOR ST. LOUIS COMMUNITY COLLEGE STUDENTS
FORM 1098-T TUITION STATEMENT
STLCC students may be eligible to claim an education tax credit for the 2016 tax year. IRS Form 1098-T shows information reported to the IRS regarding billing information from STLCC for education expenses during 2016. To obtain information concerning how to claim education tax credits, see IRS Publication 970, and Form 8863. You may also contact the IRS at 800-829-1040 or visit the website at http://www.irs.gov.
Explanation of Your IRS Form 1098-T Tuition Statement
- The IRS Form 1098-T is an information form filed with the Internal Revenue Service.
- The IRS Form 1098-T provided by STLCC reports amounts billed to you for qualified tuition and related expenses, as well as other related information.
Box 1: Payments Received for Qualified Tuition and Related Expenses
The IRS requires the college to provide information regarding payments received (Box 1) or amounts billed (Box 2). The reporting method for STLCC is amounts billed (Box 2).
Box 2: Amounts Billed for Qualified Tuition and Related Expenses
Box 2 will show qualified tuition and related expenses billed during the 2016
calendar year (Jan. 1 through Dec. 31, 2016). Please note that if you registered for an academic period beginning January-March 2017 in the 2016 calendar year, these amounts will be included as amounts billed on your 2016 tax form and Box 7 of your tax form will also be checked.
Generally, qualified education expenses are amounts billed in 2016 for tuition and fees required for the student's enrollment or attendance at an eligible educational institution.
Box 5: Scholarships or Grants
Box 5 of Form 1098-T reports the total of scholarships and/or grants
administered and processed by STLCC during the calendar year. The amount reported in Box 5 does not include student loans or work study.
The amount of any scholarships or grants reported for the calendar year may reduce the amount of any allowable tuition and fee deduction or education credit that you are entitled to for the 2016 tax year.
Additional Information Reported
Box 8 shows whether you are considered to be carrying at least one-half the normal full-time workload for your course of study at STLCC for at least one
academic period during the calendar year.
If you have additional questions regarding your 1098-T Tuition Statement, please contact:
STLCC Student Accounts Department
*NOTE: St. Louis Community College cannot provide professional tax advice. Please consult with a tax professional if you have tax related questions and/or require assistance with filing your taxes.