The information listed below is offered as a guide for students and not intended to provide professional tax advice. If you have questions or need further assistance please contact your tax advisor or the Internal Revenue Service (IRS).
What is a 1098-T form?
Eligible educational institutions file Form 1098-T to report qualified tuition and related expenses (QTRE) for enrolled students as required by the Internal Revenue Service (IRS). Depending on the student’s (or the student’s family) income, whether full or half-time enrolled, the student may be eligible for a federal education tax credit depending on the amount of their qualified educational expenses for the year. For information about claiming education tax credits, please reference https://www.irs.gov/pub/irs-pdf/p970.pdf.
Institutional Reporting Requirement Change Effective 2018
Until recently, the IRS allowed colleges and universities to choose between two reporting methods for reporting qualified tuition and related expenses (QTRE). New legislation now requires colleges and universities to report payments received for qualified tuition and related expenses (QTRE), rather than the amount billed. Beginning with tax year 2018, institutions must report in Box 1 (1098-T form) the amount of qualified tuition and related expenses (QTRE) paid during the calendar year.
Transition Year Impact
If the student registered for Spring 2021 in 2020 and paid in 2021 the same amount could be reported in 2020 (as a charged amount) and in 2021 (as a received payment) because of the reporting method change. The 1098-T should be used in conjunction with the student’s own payment records when completing their tax return.
A 1098-T form may have not been generated for the following reasons:
- No valid address reflected in the MyChaffey portal
- No SSN/TIN on file
- If no charges were paid during the relevant tax year. Please take into consideration the actual payment dates, rather than semester start dates.
- California College Promise Grant (formerly BOG) and Panther Promise Grant recipients for the year
- Highschool students who are part of the partnership or dual enrollment program for the year
- Recipient of Emergency Financial Aid grants (disaster relief payments are not included in student's gross income)
How to Access Your 1098-T
Log into the MyChaffey portal. Click on the 'Self Service (Registration)' link under Shortcuts, select 'Tax information', and click the '1098 Information tab'. Qualified students will be able to access their 1098-T form each year on or before January 31st
Updating Personal Information
Chaffey College is unable to provide students with tax advice. Students should seek the counsel of an informed tax preparer or adviser if they have any questions. Learn more about the 1098-T form at the Internal Revenue Service's website.