1098T Tax Form
Students (or taxpayers) do not need to use the 1098T form unless they are claiming an educational tax credit when filing their taxes.
Forms are available in two ways:
- Paper copies mailed in student name to home address by Jan. 31st each year
- Viewable in Self Service (pdf format may be printed) by student's log in under Tax Information (allow pop up blocker if needed)
- Form 1098-T is used by eligible educational institutions to report for each enrolled student the payments received for qualified tuition and related fees within a calendar year. The 1098-T is NOT an income reporting document. Roanoke College is required by the IRS to provide this informational form which should assist student or parent in determining whether or not they are eligible to claim an educational tax credit or deduction. Reference is provided in Publication 5197.
- Depending on income eligibility, enrollment status and the amount of your qualified educational expenses for the year, you may be eligible for a federal education tax credit. Detailed information about claiming education tax credits may be found at IRS website under Education Credits. Publication 970, Tax Benefits for Education may also be helpful.
- The amount reported on your Form 1098T may assist you in completing IRS Form 8863 which is used for calculating the education tax credit that a taxpayer may claim as part of your tax return.
- Roanoke College is unable to provide individual tax advice so if you have questions, you should seek an informed tax advisor for specific information. Student account activity is available by semesters in student portal with student login or Person Proxy for parent login. If you did not receive a 1098T form and believe you qualify to receive one from Roanoke College, please contact the Business Office at 540-375-2255. Keep in mind that billing for spring semester usually occurs in November/December of prior year so grads may not have a form for the year they graduate.
- How the transaction is reported does not impact the eligibility of the payment for a tax benefit. The taxpayer should be able to use their own financial records and/or detail from their student account statements to substantiate any claim. The IRS is aware that due to varying billing schedules a student may have had qualified billing reported in prior year but a payment made in next calendar year.
- IRS FAQs regarding the CARES refunds issued for Emergency Relief in 2020.