The Taxpayer Relief Act of 1997 allows a tax credit to be claimed for out-of-pocket payments made to the Alamo Colleges during the 2016 calendar year for tuition and certain fees. The IRS requires that Alamo College provide a 1098-T tax form to you for your use in completing IRS form 8863. The 1098-T tax forms will be mailed by January 31, 2017. The Alamo Colleges have elected to report amounts billed for qualified tuition and related expenses.
The amounts and calculations used to determine the credit are the decision of the taxpayer after consideration of relevant IRS regulations, Form 8863 and perhaps, the advice of a tax consultant.
A 1098-T is sent to each student who was billed or had billing adjustments for college-credit classes in 2016. The Alamo Colleges have elected to report the amount the student was billed (Box 2) during 2016. There will be no amounts reported in Box 1 of the 1098-T form. Continuing Education students will not be mailed a 1098-T. Continuing Education students may request copies of their paid tuition bills from the Continuing Education Office.
1098-T Frequently Asked Questions
1. When can I get my 1098-T?
- Alamo Colleges will report 1098-T’s to the IRS by January 31, 2017
- Beginning February 1, 2017 you may access your 1098-T online www.1098T.com
2. Will I receive a 1098-T?
A 1098-T is generated for each student who has been billed for qualified tuition and related expenses during the 2016 calendar year.
If you attended any of the Alamo Colleges,
you can view your 1098-T information from: www.1098T.com
3. Why does (Box 1) on my 1098-T show nothing reported?
Institutions of higher education have the option of reporting either payments received (Box 1) or qualified charges billed (Box 2) to the IRS. Alamo Colleges has chosen to report on (Box 2).
4. What constitutes Scholarships and Grants (Box 5)?
Any Scholarships and Grants administered and processed during the calendar year for the payment of student’s costs of attendance. Scholarships and grants generally include all payments received from 3rd parties (excluding family members and loan proceeds). This includes payments received from governmental and private entities such as the Department of Defense, civic, and religious organizations, and nonprofit entities.
5. Why did my spring semester charges not appear on my 1098-T?
Students automatically charge their accounts by registering for classes. If you registered during early registration (typically November or December), you charged your account at that time, making those charges eligible to claim in the previous year’s 1098T form.
6. How can I change my address?
- Log in to your ACES account
- Go to Web Services
- Personal Information
- Update Addresses and Phones
7. My 1098-T was mailed to the wrong address. How do I obtain a new 1098-T?
To obtain your 1098-T, you may access it online by visiting www.1098T.com
8. I still have questions. Who can I contact?
You may contact the student hotline after January 23, 2017. 1-877-467-3821