Tax Notification – 1098T
View your 1098-T
Follow these instructions to view your 1098T form on Web Services.
- Visit Web Services.
- Click on Student Tax Information in the vertical listing under Main Menu
- Enter the 1098T Tax Year you are looking for in the box by “Enter a Tax Year:”
- Click Submit
- Click Tax Notification under Student Records
- The Tax Notification for Tax Year page showing the 1098T Form will display for the year you entered.
- It gives important information about the 1098T form above the form and you can scroll down to view a Detail of Amounts Billed included on your 1098T broken down by term.
NOTE – Keep in mind that the Spring 2017 term may have been calculated in the 2016 1098T form; therefore, students should also check the 2016 1098T form on web services. Additionally, the Spring 2018 term may have been calculated in the 2017 1098T form.
1098-T Box Explanation
Box 1 should be blank as MGCCC is not required to report this information at this time.
Box 2 should include all net allowable charges (tuition and registration, technology, lab, C&T, on-line and book service fees) from 1/1/17 – 12/31/17. Net charges are all charges minus any reduction in charges or refunds. Payments or scholarships do not affect the amount in this box. Only charges to the student’s account are recorded in box 2. The reported amount in Box 2 is not reduced by scholarships and grants reported in Box 5.
Box 3 should be empty as MGCCC did not change reporting methods this year.
Box 4 This box is used when a student was charged tuition during any calendar year and in calendar year 2017 the charge was reversed.
Box 5 The amount of any scholarships or grants applied to the students account during calendar year 2016. This box should not include Loans or MPACT.
Box 6 This box is for any reduction to scholarships for a previous calendar year.
Box 7 Should be checked if there is an amount in box 2 that is for the Spring 2018 semester.
Box 8 This box indicates if the student was at least half time during any semester.
Box 9 should be blank as MGCCC does not offer graduate courses.
Box 10 should be blank as MGCCC does not populate this box.
Additional information and FAQs.
Does MGCCC send a copy of the 1098T form to the IRS?
Yes, it is an IRS reporting requirement that educational institutions file 1098T information. MGCCC sends an electronic form to the IRS according to their schedule.
Should I attach the 1098T to the federal income tax return?
The 1098T is not required as an attachment on tax return forms. The 1098T is for informational purposes only. It does not contain all of the information needed to determine the student’s eligibility for a tax credit nor does it include all educational expenses and payments to MGCCC. For guidance, please consult your tax preparer or visit the IRS website for education credit info.
What Expenses are reported in Box 2?
Amounts billed during the ‘calendar year’ for qualified tuition and related expenses. For further information, please refer to the IRS guidelines for specifics regarding qualified expense.
Box 2 does NOT include the amount actually PAID during the ‘calendar year.’
Example of ‘qualified tuition and related expenses’ include the following:
Tuition and fees for courses that lead to a degree, certificate or other recognized educational credential.
Charges minus any reduction in charges. (Payments or scholarships do not affect the amount in Box 2.) Registration fees.
Instructional course fees required for enrollment.
Other eligible charges to the student’s account.
Example of ‘non-qualifying expenses’ include the following:
- Payments to the student’s account.
- Tuition and fees for non-credit courses.
- Late fees.
- Housing fees.
- Meal plans.
- Book charges that are not part of book services.
- Equipment needed for a course of study.
- Transportation costs.
- Other non-qualifying expenses.
Why does Box 2 not equal what the student paid to MGCCC?
The amount in Box 2 reflects charges not payment.
If the student registered for the next spring term before the end of the calendar year there might be a timing difference of charges. These charge amounts are included in Box 2 whether the amount was paid or not paid during the calendar year. Box 7 is checked should these charges be included in Box 2.
What Scholarships and Grants are reported in Box 5?
Example of included scholarships and grants:
- Financial Aid Scholarships.
- Third Party Contract Payments.
Example of excluded scholarships and grants:
- Perkins Loans.
- Direct Subsidized and Unsubsidized Loans.
- Direct Plus Loans.
What if the student thinks the information on the 1098T is not correct?
The student should review the information regarding the qualified and unqualified amounts to be included in each box. The student can compare the 1098T information to the detailed information on their account through Web Services.
If the student still has questions, they should contact the Business Office of the campus they attended most.