The 1098-T "Tuition Statement" gives a report on the qualified tuition and related expense activity for a student during a given tax year. This information is reported to the IRS and acknowledges that a taxpayer may be eligible to claim the American Opportunity Tax Credit (formerly called the Hope Scholarship Credit) or the Lifetime Learning Credit.
I received a 1098-T in the mail. Do I owe money to the college?
Form 1098-T is not a bill.
Why did I receive the 1098-T form?
A 1098-T form is generated for each student who has been billed for qualified tuition and related expenses during the calendar year, who has had a scholarship or grant disbursed to their account during the calendar year, or who has had an adjustment to the previous year.
If I receive Form 1098-T, does it mean that I qualify for the education tax credits or tuition and fees deduction?
No, receipt of the form does not mean that you necessarily qualify. Lakeland Community College is required to provide Form 1098-T to individuals who were billed for qualified tuition and fees during 2009. To determine your eligibility, see the Internal Revenue Service Publication 970 www.irs.gov/pub/irs-pdf/p970.pdf or contact your personal tax advisor. The insert which was mailed to you with the 1098-T has a summary of recent changes to education tax credits.
Do I need to attach Form 1098-T to my tax return?
No. You do not need to attach the 1098-T form to your tax return. Instead, you should keep it with your tax records.
Why did I not receive a 1098-T form when I attended Lakeland Community College?
There are several possibilities:
- You attended Lakeland in Spring 2009, but you registered in calendar year 2008 and were therefore billed in 2008.
- Lakeland did not have a valid United States mailing address on file for you.
- You are classified as a non-resident alien.
- Your billed amounts consisted of only non-credit courses.
What if my personal information on the 1098-T form is wrong and needs to be updated?
Your personal information was taken from the student information that was available in January 2010. If you wish to update this information, you should contact the Admissions and Registration office at 440.525.7100.
Why does the 1098-T form show billed amounts instead of payments?
Educational institutions may choose to report either payments received or amounts billed for qualified tuition and related expenses, but not both. Lakeland has chosen to report the amounts billed, so Box 1 will be blank on all forms. Please refer to your cancelled checks and credit card statements to determine amounts paid in calendar year 2009.
I have questions about the amounts on my form. Who do I contact?
You can view the detail of the amounts in each of the boxes, term by term, by logging into my.lakelandcc.edu. There is a Personal Announcement regarding 1098-Ts for 2009 which will explain how to view the 2009 form and see the detail for each box.
Once you have viewed them, if you still have questions, call the 1098-T phone line: 440.525.7725. You will hear a voice message. Then you can leave a message.
Please leave your question, name, LID, and phone number, with an area code. Your call will be returned within three business days.
