Important note regarding Box 1 & 2:
For tax year 2017 and earlier, eligible educational institutions were allowed to choose to report payments received, or amounts billed, for qualified tuition and related expenses (QTRE). Claremont McKenna College chose to report Amounts Billed in Box 2, rather than Payments Received in Box 1.
Due to a change to institutional reporting requirements under federal law, beginning with tax year 2018, we will report the amount of Qualified Tuition Related Expenses you paid during the year in Box 1 of Form 1098-T
Form 1098-T is the information return that colleges and universities are required to issue for the purpose of determining a student's eligibility for the American Opportunity Tax Credit and Lifetime Learning Credit education tax credits. More information about these tax credits can be found online
A 1098-T form is produced annually for each student with qualifying account transactions if a valid Social Security or Tax Identification Number was provided to the College. A paper form will be mailed to each qualifying student no later than January 31, unless you opt out of receiving a paper copy. An electronic version of Form 1098-T is available on CASHNet.
Student Accounts staff are not tax preparers and cannot give advice on your tax return preparation. You may refer to IRS Publication 970 or Publication 17, Chapter 35 for more information.
How will I receive my 1098T?
The law requires that we mail your 1098T by January 31 for the prior calendar year just completed. If you did not opt out, you can expect it to arrive at the address you supplied in February. You may also access an electronic copy on CASHNet.
I’m a parent. Can I have my student’s 1098-T form sent to me?
Students must make all information requests. The student is responsible for providing information to other parties in accordance with FERPA (Family Education Right to Privacy Act).
Below is an explanation of how Claremont McKenna College determines the value in each box of the 1098-T form.
Box 1: Payments Received for Qualified Tuition and Related Expenses
Box 1 displays the total amount of payments received for qualified tuition and related expenses from all sources during the calendar year. The amount reported is the total amount of payments received less any reimbursements or refunds made during the calendar year. The amount reported is not reduced by scholarships and grants reported in box 5.
Box 2: Amounts Billed for Qualified Tuition and Related Expenses
As of January 2018 no information will be listed in Box 2.For all prior years it will display the amount billed during the calendar years for qualified tuition and related expenses.
Box 3: Checkbox for Change of Reporting Method
For the tax year 2018, Box 3 will be checked to signify the change Claremont McKenna College will make in our method of reporting Payments Received in Box 1 and Amounts Billed in Box 2.
Box 4: Adjustments Made for Prior Year
Box 4 displays any reductions in charges made for qualified tuition and related expenses posted during the calendar year that relate to amounts billed that were reported for any prior year after 2002.
Box 5: Scholarships or Grants
Box 5 displays the total amount of any scholarships or grants processed during the calendar year for payment of the 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 Veterans Affairs, the Department of Defense, civic, and religious organizations, and nonprofit entities.
Box 6: Adjustments to Scholarships or Grants for a Prior Year
Box 6 displays the amount of any reduction to the amount of scholarships or grants that were reported for any prior year after 2002.
Box 7: Checkbox for Amounts for an Academic Period Beginning in January through March 2017
Box 7 is checked if any amounts billed for qualified tuition and related expenses reported for 2017 relate to an academic period that begins in January through March of 2018.
Box 8: Check if at Least Half-Time Student
Box 8 is checked if the student was at least a half-time student during any academic period that began in 2017. 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.
Box 9: Check if a Graduate Student
Box 9 is checked if the student was a graduate student. The student is a graduate student if the student was enrolled in a program or programs leading to a graduate-level degree, graduate-level certificate, or other recognized graduate-level educational credential.
Why didn't I get a 1098-T form?
- We do not automatically prepare a 1098-T under these circumstances:
- Your financial aid (not counting loans) is more than the tuition charged for the calendar year
- You are not a U.S. citizen
- You withdrew from all your classes
- You were not enrolled at least halftime for any academic term during the calendar year
- You did not pass your classes
- We may not have your social security number
Claremont McKenna College must get your correct tax identification number to file Form 1098-T, Tuition Statement, with the IRS and to provide a statement to you. This will be your Social Security number (SSN) or, if you are not eligible to obtain an SSN, your individual taxpayer identification number (ITIN). Form 1098-T contains information about qualified tuition and related expenses to help determine whether you, or the person who can claim you as a dependent, may take either the tuition and fees deduction or claim an education credit to reduce Federal income tax. For more information, see IRS Pub, 970, Tax Benefits for Higher Education. Under federal law, you are required to provide the requested information. You may speak with Student Accounts to see if a 1098T is appropriate for you situation.
You can submit your SSN or ITIN on your Tuition Agreement Form.
1. Log in at the Student Portal
2. Click on Tuition Agreement form under the My Account Info sections.
3. Enter in SSN or ITIN.
4. Sign and submit form. This will then update our system.
If you fail to provide your correct SSN or ITIN to Claremont McKenna College, the IRS may impose a penalty of $100 unless your failure is due to reasonable cause and not to willful neglect. If Claremont McKenna College discloses or uses your SSN in violation of Federal law, Claremont McKenna College may be subject to civil and criminal penalties.
Privacy Act Notice
Section 6109 of the Internal Revenue Code requires you to give your correct SSN or ITIN to persons who must file information returns with the IRS to report certain information. The IRS uses the numbers for identification purposes and to help verify the accuracy of your tax return. The IRS may also provide this information to the Department of Justice for civil and criminal litigation and to cities and states to carry out their tax laws.
What numbers are reported on the 1098-T? What educational expenses are considered as qualified tuition and related expenses?
Qualified tuition and related expenses are:
- Tuition for classes you enrolled in and passed
- Required class fees such as Lab Fees
Generally, they do NOT include:
- Room and board
- Student activities
- Athletics (unless the course is part of the degree program)
- Health Center fees
- Parking fees or vehicle fines
- Other similar personal, living or family expenses