Loading...

 

1098-T FAQS

What is a 1098-T?

The 1098-T form is an informational form that lets students know they may qualify for the American Opportunity Tax Credit. The form is required by the IRS to report payments for qualified educational expenses. Qualified educational expenses include courses for which you receive academic credit. It should not be considered as a tax opinion or advice. Please consult with your tax advisor to find out what additional information you need to qualify for the tax credit. Visit irs.gov for more information.

 

What do I do with the 1098-T?

Keep it with your tax documents and consult your tax preparer (or go to irs.gov or IRS Publication 970 (page 9) to determine if you are eligible to take advantage of the American Opportunity Tax Credit.

 

Do I HAVE to submit a 1098-T?

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.

To contact the IRS for any further tax-related question, please visit IRS, refer to publication 970 (page 9), or call the IRS at 1-800-829-3676.

 

I lost my form that was mailed to me.  Can I get a new one?

Yes. You can print one immediately through your WebAdvisor account.

1) Log onto WebAdvisor

2) Click on the blue “Students” option on the far right-hand side.

3) Click on the gold “Login” tab on the upper right-hand side of the screen.

4) Enter your K-number and password.

5) On the screen that next appears, go to the section labeled “Financial Information.”

6) Click on the option labeled “View My 1098-T Forms.”

7) Select the year you want to view and/or print.

If you have any trouble logging onto WebAdvisor, please contact our Learning Commons at 815/224-0318 or go to building D, Room 201A at the main Oglesby campus.

.

I received a form by mail.  Can I still print one online?

Yes.  Please refer to the instructions in the answer directly above.

 

I need my 1098-T for a prior year. How can I obtain it?

You can obtain 1098-Ts extending back to the 2010 tax reporting year through your WebAdvisor account.

1) Log onto Webadvisor

2) Click on the blue “Students” option on the far right-hand side.

3) Click on the gold “Login” tab on the upper right-hand side of the screen.

4) Enter your K-number and password.

5) On the screen that next appears, go to the section labeled “Financial Information.”

6) Click on the option labeled “View My 1098-T Forms.”

7) Select the year you want to view and/or print.

 

What if I have more questions?

If your question is tax related, contact the IRS.  If your question concerns the information provided on your 1098-T, contact the Cashier Department at 815-224-0213.

NOTE:
  We cannot give tax advice. We are not tax preparers.