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Education Tax Benefits and Credits

 

1098-T Frequently Asked Questions

 

What has changed?

In 2017 and prior, Bergen Community College reported qualified charges in Box 2.
With effect from January 1, 2018, the Internal Revenue Service(IRS) is requiring all educational institutions to report all payments made during the calendar year for qualified tuition and related fees.
Payments made prior to January 1 2018 will not appear on the 1098T statement.

What is a Form 1098-T?

Colleges and universities are required under Internal Revenue Code Section 6050S to issue the Form 1098-T for the purpose of determining a tax payer’s eligibility for various tax credits and/or deductions.
It is to be used by federal income tax filers to determine eligibility for Hope and Lifetime Learning tax credits.

Who is eligible to receive a Form 1098-T?

Bergen Community College is required by law to file a Form 1098-T for each registered student during the calendar year for qualified transactions.
The College is not required to provide a Form 1098-T for the following:
• Non resident alien students;
• Students whose qualified tuition and fees are entirely waived or paid entirely with scholarships and/or grants;
• Students whose expenses are covered by a formal 3rd party billing arrangement.

How can I receive my 1098-T Form?

1098-T forms will be available online through the student portal(my.bergen.edu) or mailed to your address in the College data base by January 31, 2019.
To view or print your 1098-T statement:
1. Log into your student portal(my.bergen.edu)
2. Go to Web Advisor for students.
3. Select Self Service.
4. Select Tax Information.

Feel free to access and review the IRS Specific Instructions for 1098-T Form/Tuition StatementPDF