1098-T Education Tax Credit

You can now receive your 1098-T’s ONLINE! It will be available to you earlier than waiting on the mail.

Simply go to your WebAdvisor account, click on the link “1098-T Electronic Consent,” select the first choice and click “submit” THAT’S IT!!!

You will now be eligible to receive the form electronically when it is available. Then, watch your Titan Live e-mail for notification that your form is ready for viewing/printing.

  • If you chose to receive the paper version, it will be mailed to the address we have on file.
  • If GTCC does not have a valid social security number on file for you, you will not receive a 1098-T.
  • Electronic Consent
  • Electronic 1098-T FAQs

GTCC cannot provide tax advice or assistance in determining whether you are eligible to claim the credit. Please consult with your tax advisor for assistance in understanding and taking advantage of the tax credits. For more information about tax credits, please visit the IRS web site at: www.irs.gov.

If you have other questions, they may be e-mailed to 1098T@gtcc.edu or you may call GTCC’s 1098-T Education Tax Credit voice mail extension 31265. A GTCC staff person has been assigned to reply to e-mail and return calls in the order that they are received.

For more information on tax breaks for education, please visit this website for more information: nasfaa.org

Electronic 1098-T Consent

As allowed by Federal regulation, Guilford Technical Community College (GTCC) offers those eligible to receive IRS Form 1098-T the option to receive the form in an electronic format instead of through the mail. In order to exercise this option, eligible recipients must provide consent to receive the form in an electronic format. Eligible recipients will only include those students that have provided a valid social security number for their file and have had reportable financial transactions* during the tax year. GTCC students may elect to view and print their 1098-T through Titan Live/WebAdvisor rather than wait for it to come by mail. If you consent to receive the form electronically, the IRS 1098-T will be displayed each year so that you can complete your tax return without waiting for a mailed document. The form will generally be available to you earlier electronically than it will be if mailed to you. Click here for more information about the IRS Form 1098-T (Publication 970 – Tax Benefits for Education)

You must provide consent no later than January 15th for it to be effective for the tax year just ended. If you choose not to consent to receive the statement electronically, a paper copy of the 1098-T will be mailed no later than January 31st to your address on file via US mail.

To receive your 1098-T electronically, go to WebAdvisor and click on “1098-T Consent” under your Financial Profile. You must select the box signifying that you have read and understand these disclosures and are electing to receive your 1098-T in an electronic format. Click “Submit” to consent to view and print your IRS Form 1098-T online.  No further action is necessary. Clicking cancel will return you to the menu.

Once consent is provided, GTCC will not be mailing Form 1098-T to your home. You will receive an email to your Titan Live account notifying you when your form is available for viewing online. This consent will be implied for all 1098-T forms current and future.

Updating Mailing Address
You may update your mailing address at any time by contacting Enrollment Services. Any updates must be completed by December 31st in order to ensure that the system is updated by the January 15th deadline. Please make sure your information is always up to date in order to reduce any potential delays in receiving the 1098-T tuition statement.

Withdrawal of Consent
You may withdraw consent to receive a 1098-T form electronically at any time prior to January 12th. There are several methods for withdrawing consent. You can return to the same website where you consent and elect to revoke your consent. Optionally, you can email the request to 1098T@gtcc.edu or you can mail your request to:

Guilford Technical Community College
Attn: 1098-T’s
P.O. Box 309
Drawer R
Jamestown, NC 27282

A withdrawal of consent does not apply to a statement that was furnished electronically prior to the receipt of the withdrawal or after the deadline for the consent for the tax year.

Request for Paper Statement
An advantage of the electronic 1098-T is that it is available for you to print at your convenience. However, if you consented to receive the 1098-T form in an electronic format and you subsequently want to request a paper copy, email the request to 1098T@gtcc.edu. This request may take 7-10 business days to complete.

Availability of Electronic 1098-T Statements
Electronic 1098-T tuition statements will be available (at a minimum) until December 31st of the following tax year. For example, the 2010 statement will be available until December 31, 2011.

Viewing Your Electronic 1098-T Statements
You will need Adobe`s free Reader program in order to open and print a copy of the statement. *Reportable Financial Transactions – Registration charges billed and not covered by a sponsor are considered reportable. The charges must have been billed during the tax year being reported.

Last update 02/25/2014

General Questions

What is Form 1098-T?

Colleges and universities are required by US law each year to provide each student who is a “US person” for tax purposes with Form 1098-T to assist the students and their families in computing any tax credit or deduction they may be able to claim based on amounts they have spent for education. Please consult with your tax advisor or seek information from www.irs.gov for information specific to you.

Students from outside the US should consult with your tax advisor or seek information from www.irs.gov for information specific to you.

Will I receive Form 1098-T?

Every student whose student account had billed financial transactions during the calendar year will receive a Form 1098-T. Receiving Form 1098-T does not necessarily indicate that you are entitled to claim any of the education-related tax credits or deductions. Please consult with your tax advisor or seek information from www.irs.gov for information specific to you.

Please note: If your social security number is not on file with GTCC, a Form 1098-T cannot be produced for you. Please contact Enrollment Services to update your account with your correct social security number.

What should I do with my Form 1098-T?

You should immediately give your Form 1098-T to whomever is responsible for preparing your tax return. If you prepare your own tax return, you should keep your Form 1098-T in a file with your other tax documents. Form 1098-T should remain in your file. You do not need to attach Form 1098-T to your return.

Where can I go for help in understanding my Form 1098-T?

Please review the FAQ’s on this page because they will answer many of your questions. For other more detailed information, please consult with your tax advisor or seek information from www.irs.gov for information specific to you. IRS Publication 970 (Tax Benefits for Education) will provide assistance.

Will my parents also receive a copy of Form 1098-T?

No. We will make the Form 1098-T available only to the student. The student is responsible for making his or her own Form 1098-T available to parents, tax preparers or other persons.

When will a paper form 1098-T be available?

The paper forms will be mailed no later than January 31st to your address on file via US mail. Allow at least one week following mailing to receive your Form 1098-T.

Questions About Online 1098-Ts

What are the benefits of getting my Form 1098-T online?

The benefits to receiving electronic notification are:

• Online delivery provides access to the form 1098-T earlier than the traditional mailing process.
• Online delivery eliminates the chance that the 1098-T will get lost, misdirected or delayed during delivery, or misplaced once the student receives it.
• Students can reprint a copy of their 1098-T at their convenience.
• Signing up for online delivery is easy and secure.
• Students can receive their 1098-T form even while traveling or on assignment away from their home address.

How do I sign up to get my Form 1098-T online?

It’s easy! Log into your Titan Live/WebAdvisor account. Click the link that for the 1098-T’s Electronic Consent. Select the option to agree to receive your Form 1098-T only in electronic form. Click “Submit” and that’s it!

When will my form be available?

Your electronic Form 1098-T will be available to you online earlier than the mailing date of the paper form. Although an exact date is not known, even if it isn’t available until January 31st, that will likely be at least 1 week earlier than receipt of a paper form. Notices will be posted on the GTCC website when the forms will be available.

What will I be able to do with my electronic form?

Your Form 1098-T will appear as a PDF document. You can open the file and print it. You can also save it to your computer and then print or email as desired.

Is the online access secure?

Yes. Access to Titan Live/WebAdvisor is based on your login and password. As always, do not share login and password information with anyone.

Can my parents or tax preparer access my Form 1098-T online?

No. Since access to Titan Live/WebAdvisor is based on your login and password, no one else can access it. Federal privacy laws prohibit us for distributing your Form 1098-T to third parties.

Do I need any additional software or hardware?

You will only need a computer capable of accessing the internet and the free Adobe reader in order to open the file. If you need to download the free Adobe reader, please click this link: http://get.adobe.com/reader/.

Will I still get a paper copy in the mail?

No. However, with Online 1098-T access, you can print your own form whenever you need.

Once I’ve signed up, do I need to sign up each year?

No. Once you have signed up, your election will remain in effect for the remainder of your time at GTCC.

What if I change my mind and do not want to keep receiving my Form 1098-T electronically?

If you decide to lose all the benefits of electronic tax forms, you can simply return to the same site where you originally consented and select the option to revoke consent. The revocation will take place for any tax forms issued with the year-end after your consent is revoked.

Account-Related Questions

Do I need to report my scholarships as taxable income?

Generally, scholarships that pay for qualified tuition and related expenses are not taxable to the student. However, if any portion of your scholarships paid for non-qualified expenses then you may be responsible for reporting that portion as taxable income on your return. However, please consult with your tax advisor or seek information from www.irs.gov for information specific to you.

Are Parent Plus loans reported on my Form 1098-T?

Form 1098-T is never issued in the name of the parent. Any activity for these loans will be shown on the student’s form 1098-T.

What transactions are showing on my Form 1098-T?

The transactions being reported are your “billed financial transactions” for the tax period being reported. “Billed financial transactions” are registration charges billed and not covered by a sponsor. The charges must have been billed during the tax year being reported.