Tax Credits and 1098-T Statement
Education tax credits may be available to you based on educational expenses paid for you, your spouse and/or your dependents. Please refer to the IRS Education Credits Online Resource Guide (PDF) for information on education credits available.
The information on this page is not intended to provide comprehensive tax advice. A taxpayer should consult a tax professional for further information regarding educational tax credits and deductions.
To apply for a credit, taxpayers must report the amount paid up to qualified tuition and fees, as well as the amount of certain scholarships and grants used toward tuition and fees in the tax year. (The tax year is defined as January 1 to December 31.) Schools are required to provide this information to each taxpayer in the form of a 1098-T Tuition Statement by January 31 of each year. Taxpayers use this information, along with their own tuition and fee records, to complete IRS form 8863 (PDF) and claim education credits.
When are 1098-T Statements available?
On or before January 31 of each year, the college will provide a Form 1098-T Tuition Statement to eligible students. The statement will be mailed to students unless the student elects to receive the statement through online delivery only (see below for information on obtaining the statement online).
The 1098-T reports both payments applied to qualified educational expenses during the tax year and any scholarships or grants disbursed to the student account in that same tax year. It is the student's responsibility to retain receipts for payments made during the tax year. You may view your payment history by signing into mywcc
Waubonsee provides the same information to the Internal Revenue Service (IRS), as required by law.
Online Delivery of 1098-T Statements
Students can elect to receive the 1098-T Tuition Statement through online delivery. In order to receive your 1098-T form online only (no paper statement) for filing your taxes, you must consent to online delivery by January 1. Students can view, print and download 1098-T Tuition Statements online.
It is important that you make your selection for online delivery by January 1. Your 1098-T Tuition Statement will be mailed by January 31 if you do not choose the online option.
By January 1: Select online delivery of your 1098-T statement following these steps.
- Go to mywcc.
- Log in using your X-number and password.
- Select For Students on right panel.
- Select Tuition, Payments, and Financial Aid.
- Select Make Payments/View Account Detail.
- Read the consent form and click the "Accept Consent" button to agree to receive your statement through online delivery (if the consent form does not pop up automatically, select "Consents and Agreements," then there will be a red button to change your selection).
- On or after January 31, you may log in to your Student Account Suite using the steps below to view, print and download your 1098-T statement.
On or after January 31: View, print and download your 1098-T Tuition Statement online following these steps.
- Go to mywcc.
- Log in using your X-number and password.
- Select For Students on right panel.
- Select Tuition, Payments, and Financial Aid.
- Select Make Payments/View Account Detail.
- Under My Account, select the 1098-T Statements tab.
Authorized users may also view your 1098-T statement online if you grant permission. An authorized user is any other person that a student has set up with access to their the Student Account Suite. To grant your authorized users access to view your 1098-T tuition statement:
- Go to Student Account Suite for Authorized Users
- Log in using your email address and password.
- Select My Account.
- Select Statements.
- Select 1098-T Tax Statements
What is a 1098-T?
Q: What is the IRS Form 1098-T?
A: Form 1098-T, Tuition Statement, is an IRS tax form filed by eligible education institutions to report payments received from students. The college must issue a form to every Eligible Student* as defined in the next question.
Q: Who is issued Form 1098-T?
A: The college must issue Form 1098-T directly to any eligible student who received payments equal to or less than their qualified tuition and related expenses (QTRE) from January 1 through December 31 during that tax year.
*For purposes below, an Eligible Student is a student:
- who attended the college in tax (calendar) year
- for whom payments received (for example, scholarships or grants) are equal or less than QTRE, and
- who is a U.S. resident.
Q: What do I do if I can't find my 1098-T?
A: An electronic copy of the 1098-T is always available on mywcc. See above for access directions.
Q: When will I receive my 1098-T?
A: Form 1098-T is available electronically by the end of day on January 31 through mywcc. Students will receive an email notification when available. For students that do not elect to receive Form 1098-T electronically by January 1, paper forms are mailed no later than January 31 to the permanent address on file.
Q: Can I receive my 1098-T electronically?
A: Students who have consented by January 1 can access their Form 1098-T on mywcc. To access the form, log into mycc and select the Students Tab. Next, Student Tools select View 1098-T Tax Forms which will take you to the Student Account Suite. Both current and prior year forms (when applicable) are available.
Q: I am a parent of a student and need a copy of my student's Form 1098-T. How do I obtain one?
A: The college is unable to provide this document to anyone except the student. If the student is sharing it, there are two options:
- The student can give a copy of Form 1098-T to that person.
- The student can set up that person as an Authorized User on the Student Account Suite.
Q: Did you send a copy of the Form 1098-T to the IRS?
A: Yes, the college is required by law to file Form 1098-T with the IRS.
Q: My address listed on the Form 1098-T has changed, will this affect me?
A: No. The address shown on Form 1098-T is irrelevant for IRS income tax filing purposes.
Q: How do I obtain a corrected Form 1098-T?
A: Please report discrepancies to Student Accounts and Cashier Office at (630) 466-5705 or by emailing studentaccounts@waubonsee.edu.
Q: Why is the box for Student's Social Security Number blank?
A: A blank box means that Waubonsee does not have a valid Social Security Number (SSN) or Taxpayer Identification Number (TIN) on file. Waubonsee is required to report qualified tuition expenses and submit your information to the IRS regardless of whether a valid SSN or TIN is on file. At this time, WCC does not have a valid TIN or SSN on record for you. Not providing a valid TIN or SSN could result in IRS penalties.
Please complete, sign and submit the IRS Form W-9S - Request for Student's Taxpayer Number and Certification to provide Waubonsee with your valid SSN to avoid future IRS penalties. Please do not email this form for security reasons. You can bring it to the Student Accounts and Cashier Office on the second floor of the Student Center, fax it to the Student Accounts and Cashier Office at (630) 966-4867, or mail it to:
Waubonsee Community College
Student Accounts and Cashier Office
Route 47 at Waubonsee Drive
Sugar Grove, IL 60554
Q: What does each box represent on my Form 1098-T?
A: Below is a brief explanation of the forms contents primarily from the IRS instructions:
Box 1: Payments received for qualified tuition and related expenses. Shows the total payments received by Waubonsee in the tax year reporting from any source for qualified tuition and related expenses (QTRE) less any reimbursements or refunds made during the tax year reporting that relate to those payments received during tax year reported. The amount reported is not reduced by scholarships and grants reported in box 5.
Box 2. Reserved for future use. Blank for all.
Box 3. Reserved for future use. Blank for all.
Box 4: Adjustments made for a prior year. Shows any adjustment made by Waubonsee for a prior year for qualified tuition and related expenses (QTRE) that were reported on a prior year Form 1098-T.
Box 5: Scholarships or grants. Shows the total of all scholarships or grants administered and processed by Waubonsee. The amount of scholarships or grants for the calendar year (including those not reported by Waubonsee) may reduce the amount of the education credit you claim for the year.
TIP: You may be able to increase the combined value of an education credit and certain educational assistance (including Pell Grants) if the student includes some or all of the educational assistance in income in the year it is received. For details, see Pub. 970.
Box 6: Adjustments to scholarships or grants for a prior year. Shows adjustments to scholarships or grants for a prior year. This amount may affect the amount of any allowable tuition and fees deduction or education credit that you claimed for the prior year. You may have to file an amended income tax return (Form 1040X) for the prior year.
Box 7: Checked if the amount in box 1 includes amounts for an academic period beginning January - March of that tax year. Shows whether the amount in box 1 includes amounts for an academic period (i.e. semester) beginning January–March of that tax year. See Pub. 970 for how to report these amounts.
Box 8: Check if at least half-time student. Shows whether you are considered to be carrying at least one-half the normal full-time workload for your course of study at Waubonsee.
Box 9: Checked if a graduate student. Blank for Waubonsee. (Shows whether you are considered to be enrolled in a program leading to a graduate degree, graduate-level certificate, or other recognized graduate-level educational credential.)
Box 10: Ins. contract reimb./refund. Blank for Waubonsee. (Shows the total amount of reimbursements or refunds of qualified tuition and related expenses made by an insurer.)
Future developments. For the latest information about developments related to Form 1098-T and its instructions, such as legislation enacted after they were published, go to www.irs.gov/Form1098T.
Any further questions can be directed to a representative in the Student Accounts and Cashier Office via email at: studentaccounts@waubonsee.edu or phone at (630) 466-5705.
How Are Amounts Calculated on Form 1098-T?
Q: Which payments will be reported in Box 1, Payments Received for Qualified Tuition and Related Expenses?
A: All eligible education institutions are required by the IRS to report Payments Received for Qualified Tuition and Related Expenses (QTRE) in Box 1, up to the cost of QTRE. Box 1 may also include payments for past-due QTRE for a previous calendar year that were billed to you. Types of payments below are included.
- Cash, check, credit & debit card payments
- Loans (direct subsidized & unsubsidized, private, & Parent PLUS)
- Wire & third-party payments
- Scholarships & grants
Q: What are Qualified Tuition and Related Expenses (QTRE)?
A: QTRE includes:
- Tuition
- Student Fee
- Course Fees
- Any other eligible or qualified charges required for a student to be enrolled at or attend Waubonsee Community College and receive academic credit for the completion of course work leading to a degree.
QTRE excludes:
- Books
- Fines
- Noncredit courses, for example:
- Personal enrichment
- Professional development
- Driver Safety Program
- Courses for preschoolers, kids and teens
- Other examples of non-qualified charges include expenses incurred for a course to enhance job skills, improve language skills, or study abroad, unless a degree program requires studying abroad.
Q: Why are some of my payments not included?
A. There are multiple reasons that a payment may not be included. Some common examples are below:
A payment that is received before January 1 of the tax year or after December 31 of the tax year is not included, even if the payment was for a course that taken during that tax year. Payments are included on the form for the tax year they were received. If you registered for a spring class and made payment for it during the prior tax year, that payment was reported on your prior tax year Form 1098-T and is not included for the current tax year.
Payments reported in Box 1 must be received for Qualified Tuition and Related Expenses (QTRE). Payments for other expenses are not included.
Q: How can I get an itemized listing of the financial activity that is on my Form 1098-T?
A: Account statements are available online by logging into mywcc. Select the For Students on right panel, select Tuition, Payments, and Financial Aid, and select Make Payments/View Account Detail which will take you to the Student Account Suite.
Q: How do I obtain a corrected Form 1098-T?
A: Please report discrepancies to Student Accounts and Cashier Officeat (630) 466-5705 or by emailing studentaccounts@waubonsee.edu.
How do I know if I need to file a 1098-T with my taxes?
For all questions related to filing taxes, Waubonsee cannot provide personal tax advice or answer questions about how to file taxes. Questions below will only refer to general Internal Revenue Service (IRS) resources. Individuals should consider consulting a tax advisor for specific guidance.
Q: How do I know if I'm eligible for a tax credit or tax deduction?
A: The college does not provide personal tax advice or answer any questions about your eligibility. The IRS website's Interactive Tax Assistant Page, "Am I Eligible to Claim an Education Credit?" may be helpful.
- Interactive Tax Assistant (ITA)
- Publication 5197, Education Credits and Form 1098-T (PDF)
- Publication 970, Tax Benefits for Education (PDF)which includes chapters on the American Opportunity Credit and Lifetime Learning Credit.
- Form 8863, Education Credits (American Opportunity and Lifetime Learning Credits)
- About Form 1040, U.S. Individual Income Tax Return
- Instructions for Form 1040
- Publication 17, Tax Guide for Individuals
- IRS Telephone Assistance Hotline: (800) 829-1040
The tax rules regarding eligibility for, calculation of, and limitations on the tuition and fee deduction and education credits can be complex. Individuals should consider consulting a tax advisor to determine whether they are qualified to claim the education expense tax credits and deduction.
Q: Do I need to report my scholarships as taxable income?
A: The college does not provide personal tax advice or answer any questions about your eligibility. Please refer to the IRS website's Interactive Tax Assistant page, "Do I Include My Scholarship, Fellowship, or Education Grant as Income on my Tax Return?"
Q: What are the American Opportunity Tax Credit and the Lifetime Learning Tax Credit?
A: To review information about these two Tax Credit options, you may view the IRS webpage called Education Credits -- AOTC and LLC
Helpful Resources
- Internal Revenue Service (IRS) Resources
- College Illinois!
- IRS Form W-9S - Request for Student's Taxpayer Number and Certification (PDF)
Student Accounts and Cashier Office
Sugar Grove Campus
Student Center, Second Floor
(630) 466-5705
studentaccounts@waubonsee.edu
Please see our current available hours in the Services Directory.
Note: for student privacy reasons, if you are sending an email with specific questions about your account, please use your Waubonsee student email through mywcc, if you have one set up.
