Important Tax Information
1098T – 2018
The information on the 1098-T Form relates to education credits for qualified tuition and related expenses. 1098-T Forms are mailed to the students’ home or accounts receivable address and can be found on WebHopper no later than January 31st each year.
The IRS requires the information to be reported for the calendar year from January 1, 2018 through December 31, 2018. The college does not bill tuition and fees per calendar year. We bill per term. The charges for spring 2018 were billed in December 2017 and will not be reflected on the 2018 1098-T Form. However the charges for spring 2019, which were billed in December 2018 for most students, may be reflected on the 2018 1098-T Form. If you were billed for spring 2019 during 2018 calendar year, Box 7 will be checked on the 1098-T Form.
When figuring an education credit or tuition and fees deduction, use only the amounts you paid and are deemed to have paid during the tax year for qualified education expenses. The amount on Form 1098-T might be different from the amount you actually paid and are deemed to have paid. Review your statements on WebHopper to help determine the qualifying charges for 2018. To view statements logon and go to the Student Menu. You will find a link to View Account and Make Payments under the Financial Information section. This link will take you to the Make a Payment page. Open the Student Finance tab and choose Account Summary. You will find links to each of your term based statements listed after the Account Overview.
We recommend that you review IRS Publication 970, Tax Benefits for Education; and IRS Form 8863, Education Credits, to assist you when completing your 2018 tax return. You may obtain these publications from an IRS Office near you or download the information at http://www.irs.gov. Due to the complex nature of these tax regulations, you should contact your tax consultant with specific tax questions.
While Austin College staff will not be able to answer specific tax questions, the Business Office will be happy to answer any questions you may have regarding the transactions between you and Austin College. Please direct any questions that you may have to Marla Light at 903.813.2525.