Tax Information for Students

2018 1098-T Changes - Important

 

Form 1098-T Tuition Statements

The Internal Revenue Service requires that Blue Ridge Community College report qualified tuition and expenses and scholarships and grants paid or posted to all degree seeking students accounts on Form 1098-T.  The 1098-T is an information return that assists students in computing certain education tax credits or deductions for which they may be eligible when they file annual income tax returns. 

For tax information, please visit the IRS Publication 970 where detailed information is provided about tax benefits for education.  For additional information and guidance, contact your professional tax preparer.  

Students have instant access to their Form 1098-T Tuition Statement. By providing consent to receive your 1098-T Tuition Statement electronically, you will be able to access and print your 1098-T as soon as they become available and will no longer receive the form in the mail.

Students who would like electronic delivery and instant online access to the 1098-T statement should login to their myBlueRidge student portal and provide consent using the “1098 Electronic Consent” option under the "Tax Information" tab.

The College will mail Form 1098-T no later than January 31 to students who do not consent to receive Form 1098-T electronically.

 

Collection of Social Security Numbers

Blue Ridge Community College is required to collect Social Security Number (SSN) or Taxpayer Identification Number (TIN) from all degree seeking students in accordance with Internal Revenue Service (IRS) regulation §1.6050S-1(e). The IRS also requires the College to notify all degree seeking students that if they choose not to disclose their SSN or TIN, they may personally be subject to a $100 penalty imposed by Internal Revenue Service.  Additional information regarding the IRS requirements may be found under IRS 1098-T Tax Forms.

Students are asked to supply  SSN or TIN to the College accurately on the admissions application and include the legal name as it appears on the Social Security Card or Taxpayer Identification.  If the SSN or TIN that the College has on file is not correct, please notify the Registrar's Office.  

 

Frequently Asked Questions about Form 1098-T

Q: What is Form 1098-T?

A: We are required by IRS Section 1.65050S-1 to send Form 1098-T to students for whom qualified tuition and fees were paid during the calendar year. 

Q: Why did I receive Form 1098-T?

A: Form 1098-T has been provided to assist in determining if you the individual, or who may claim you as a dependent, are eligible to claim a Hope Scholarship or Lifetime Learning Credit on the income tax return. 

Q: Why did I NOT receive Form 1098-T?

A: There are several possibilities: 1) The IRS does not require us to send you one if your scholarship and aid (including formal billing arrangements with employers, government agencies, etc.) exceeded the invoiced amount. 2) You attended in Spring Semester but you had enrolled and paid for your classes in prior calendar year. 3) We do not have a valid United States mailing address or Social Security Number on file for you. Please complete form W-9S at http://www.irs.gov/pub/irs-pdf/fw9s.pdf and remit to the Registrar. 4) Your paid amounts consisted of only non-credit courses such as "Continuing Education" courses.  5.) You gave consent to "opt-out" of paper delivery of the form using myBlueRidge.

Q: Where was my form mailed?

A: Your 1098-T form will be mailed based on addresses provided by the student to the Registrar’s Office.

Q: I viewed my 1098-T online.  Will I get a copy in the mail?

A: No, by providing consent to view your 1098-T online, you also opted-out of receiving a paper copy. 

Q: Is the 1098-T form I printed from myBlueRidge valid for the IRS?
A: Absolutely.  The 1098-T form from myBlueRidge is an IRS approved substitute.

Q:  I registered in November for Spring classes but I did not pay for those classes until January of the following year.  When is that amount reflected on my 1098-T.

A: Your 1098-T will report any amount paid on your account from January 1 to December 31 of the tax year being reported.

Q: My address is wrong.  Can I get another copy printed?

A: No, but you can access and print a copy of your 1098-T by logging into myBlueRidge. The Student Account/Cashier’s Office cannot reprint tax forms.  Please update/correct your mailing address with the Registrar’s Office or "opt-out" of paper delivery.

Q:  What about books?  Why are they not included?

A:  Only qualified tuition and expenses are reported on your 1098-T.  Please consult your professional tax adviser with questions regarding "qualified expenses".

Q: If I receive Form 1098-T, does it mean I qualify for the Hope Scholarship or Lifetime Learning Tax Credits?

A: Not necessarily, the College is required to provide Form 1098-T to individuals who paid for qualified tuition and fees during the calendar year. Please consult your professional tax advisor to make an individual determination.

Q: How do I determine which expenses will qualify for the Hope Scholarship and Lifetime Learning Credits?

A: Blue Ridge Community College cannot offer tax advice. Please consult your professional tax advisor for additional information.

Q: What do the amounts located on the form represent?

A: Box 1 represents the amount of qualified paid tuition and expenses for calendar dates January 1 through December 31 that have been paid to Blue Ridge Community College.

Box 4 represents any adjustments that have been made for a prior tax year such as drop/add refunds, etc.

Box 2 will not be used.

Box 5 represents the total of all scholarships or grants administered and processed by the eligible educational institution as well as the total of any tuition or fees that were paid by a sponsor on the student's behalf through a formal sponsorship agreement. The amount of scholarships or grants for the calendar year (including those not reported by the institution) may reduce the amount of any allowable tuition and fees deduction or the education credit you may claim for the year. 

Box 6 represents any adjustments made to scholarships or grants for a prior tax year such as a financial aid amount change.

Box 7 is checked only if the student has paid prior to December 31 for any qualified tuition for the spring semester. 

Box 8 is only checked if the student has been a half time student (6 credit hours) for at least one academic period that began during the calendar year.

Box 9 and 10 will not be used at Blue Ridge Community College.