1098T Information

GCC is required to report payments received for qualified tuition and related expenses to the eligible taxpayer and the IRS. When filing a federal tax return, you (the student) or a person who can claim you as a dependent may be eligible for an education tax credit for qualified tuition, fees, and related expenses.

We are required to mail 1098T forms by January 31 each year to the student’s permanent address. If the permanent address is not active or available, we will mail the form to the student’s mailing or other address we have on file. Your 1098T form will also be available on your MyGCC account by this date. When you view your 1098T online, you can see the address the form was sent to and a detailed breakdown of your 1098T. If we did not send you a 1098T form, it was because you were not eligible to receive one. GCC will not send a copy of your 1098T to any third parties.

To view your 1098T form online:

  • Log onto your MyGCC account
  • Click My Account
  • Under the Billing menu, click Tax Notifications
  • Enter the desired tax year and click Submit

It is the responsibility of the student or the person claiming a tax credit to retain financial records for tax preparation. Records for charges and payments relevant to a student’s account are available on their MyGCC account. GCC staff cannot offer advice on tax matters.

Missing Social Security Number
GCC does its due diligence in obtaining social security numbers from students eligible to receive a 1098T. If your SSN is missing, you did not respond to our requests. To update your SSN with us, please complete the W-9S form and mail it to our office (address on form). If you fail to furnish your correct SSN or ITIN to the requester (GCC), you are subject to a penalty of $50.00 unless your failure to do so is due to reasonable cause and not willful neglect, per IRS regulations.

Who is excluded from receiving a 1098T form?
We are not required to report to the IRS or to furnish a 1098T form to you if:

  • You were enrolled in courses for which no academic credit was offered, even if you were otherwise enrolled in a degree program.
  • You were a nonresident alien (unless you specifically requested a 1098T).
  • Your qualified tuition and related expenses were entirely waived or paid by scholarships, grants, or third parties such as employer or federal/state government agency.
  • The school does not maintain a separate financial account for you and your qualified tuition and related expenses are covered by a formal billing arrangement between GCC and your employer or a government entity, such as the Department of Veterans Affairs or the Department of Defense.
Box 1: Payments received for qualified tuition and related expenses
  • Includes out-of-pocket payments, financial aid grants and scholarships, student loans, and third party payments
  • Refunds and reimbursements are deducted from this amount
  • Payments cannot exceed qualified tuition and related expenses. If payments exceed this amount, they will be adjusted to reflect the expenses amount.

Box 2: Qualified tuition and related expenses

  • This box is left blank (effective as of the 2018 tax year)
  • Behind the scenes, we use this in determining the amount in Box 1
  • Waivers and tuition remissions will reduce the amount of qualified tuition and related expenses

Box 3: Indicates a change in reporting method – typically blank

 

Box 4: Adjustments made for a prior year

  • Shows reimbursements or refunds of qualified tuition and related expenses made in the current reporting year for payments made in previous years (after 2017)
  • Includes reductions in charges made in the current reporting year for qualified tuition and related expenses billed in previous years (after 2017)

Box 5: Scholarships and/or grants

  • If the amount in this box equals or exceeds the amount in Box 1, we will not send you a 1098T form because it is assumed that you incurred no out-of-pocket expenses
  • Includes increased financial aid awards, scholarships, or third party payments in the current reporting year to cover an expense from a previous year

Box 6: Indicates reductions in financial aid grants, scholarships, or third party payments made in the reporting year for expenses in a previous year (after 2002). This is reported as a positive number, but is actually a negative amount.

 

Box 7: Indicates payments received for the academic period that begins in January through March of the next year

 

Box 8: Indicates at least half-time (6 credits) status during any academic period of the reporting year

 

Boxes 9 and 10: Do not apply to GCC students

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