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1098-T Information

Published or Revised January 25, 2019

1098-T Information

Information reported on the 2018 1098-T IRS Form

On the 1098-T form, PJC reports student’s name, SSN, address and indicates if the student was at least half-time during the calendar year. Beginning with the 2018 1098-Ts, PJC reports the amounts paid for qualified tuition and related expenses to PJC during the calendar year in Box 1. 

Accessing your 1098-T Form on 1098tforms.com

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Click here for detailed instructions on filling out the new 1098-T form in pdf format.

Qualified Tuition and Related Expenses

Unqualified Expenses

Box 1: Payments Received for Qualified Tuition and Related Expenses

The amount reported is the total amount of payments received less any reimbursements or refunds made during the calendar year that relate to the payments received for qualified tuition and related expenses during the same calendar year.

Box 3:  Checkbox for Change of Reporting Method

This represents a change in the method of reporting. Prior to 2018, Paris Junior College reported in Box 2 the allowable charges. The reporting method has been changed in 2018 to report in Box 1, allowable payments.

Box 4: Adjustments Made for a Prior Year

Reimbursements or refunds of qualified tuition and related expenses made in the calendar year that relate to payments received that were reported for prior year(s).

Box 5:  Scholarships and Grants

This represents the total of all scholarships or grants received and processed for the calendar year.

Box 6:  Adjustments to Scholarships or Grants for a Prior Year

This represents any reduction to the amount of scholarships or grants that were reports for prior year(s).

Box 7:  Checkbox for Amounts for an Academic Period Beginning in January through March of 2019

This box will be checked if any payments received for qualified tuition and related expenses reported for 2018 calendar year relate to an academic period that begins in January through March of 2019.

Box 8:  Check if at Least Half-Time Student

This box is checked if a student was at least a half-time student during any academic period that began in 2018. A half-time student is a student enrolled for at least half the full-time academic workload for the course of study the student is pursuing.

What to do if you do not receive the 1098-T Form

PJC sends a 1098-T form to every student (except foreign students) who is enrolled and has reportable transactions. If you were enrolled in at least half time in any semester during the previous calendar year, did not receive your 1098-T by mail, and it is not available on the 1098tforms.com website, contact the Business Office at 903.782.0232.

Exceptions

PJC is not required to file Form 1098-T or furnish a statement for:

Determining the eligibility for the educational tax credits

PJC cannot determine if you qualify for a tax credit and is not allowed to give you tax advice. Please read the instructions on the 1098-T statement and obtain IRS publication 970 and Form 8863 or contact a tax professional about your personal income tax situation. The IRS website for the above form and publication is http://www.irs.gov/formspubs/index.html , and the IRS can be reached at 1-800-829-1040.

Why doesn’t my 1098-T match what I paid/received?

Amounts of qualified tuition and required fees reported on your 1098-T are defined by the IRS as “tuition and fees required for enrollment or attendance at an eligible educational institution.” The IRS does not consider student health fees, transportation fees, recreational sports fees, insurance fees, or room and board of any kind as qualified tuition and related fees, therefore, these fees are excluded from amounts reported on the 1098-T.

Amounts reported on your 1098-T are for determining eligibility for an education credit or a tuition and fees deduction, NOT for determining taxability of scholarships. Your scholarships may or may not be taxable. Refer to IRS Publication 970 (https://www.irs.gov/pub/irs-pdf/i1098et_18.pdf) for details on determining the taxability of different types of scholarships.

Change in 1098-T Reporting for 2018

In previous years, your 1098-T included a figure in Box 2 that represented the qualified tuition and related expenses (QTRE) we billed to your student account for the calendar (tax) year. Due to a change to institutional reporting requirements under federal law, beginning with tax year 2018, we will report in Box 1 the amount of QTRE you paid during the year.

Depending on your income (or your family’s income, if you are a dependent), whether you were considered full or half-time enrolled, and the amount of your qualified educational expenses for the year, you may be eligible for a federal education tax credit. (You can find detailed information about claiming education tax credits in IRS Publication 970, page 9.)

The dollar amounts reported on your Form 1098-T may assist you in completing IRS Form 8863 - the form used for calculating the education tax credits that a taxpayer may claim as part of your tax return.

Paris Junior College is unable to provide you with individual tax advice; if you have questions, you should seek the counsel of an informed tax preparer or adviser.

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