The 1098-T form contains information to assist a student in filing the education tax benefits/tax credit deductions, such as the American Opportunity Credit (a modification of the Hope Credit) and Lifetime Learning Tax Credits. For more information on these tax credits please visit the IRS web site http://www.irs.gov/publications/p970/ar01.html.
Kentucky Community & Technical College System mails the 1098-T forms via U.S. Mail by January 31st.
As an eligible educational institution Kentucky Community & Technical College System is required to send a 1098-T form to any student enrolled and had qualified tuition expenses paid ‘out-of-pocket” during the previous calendar year.
1098-T may not be issued for several reasons. IRS exceptions for not furnishing a 1098-T are:
The IRS classifies qualified tuition and related expenses as charges a student must pay ‘out-of-pocket’ to be enrolled at or attend Kentucky Community & Technical College System.
The following are not qualified tuition and related expenses:
Yes, if you were eligible to receive a 1098-T from a previous year you may contact your local college Business Office or contact the 1098-T voice mail number 855-465-2827 (please leave your name, student ID, last for digits of your Social Security Number, current address, tax year request and brief message.)
Charges and fees for room and board are not qualified as tuition and related expenses by the IRS.
The 1098-T form is based on a calendar year (January 1 – December 31). If your total financial aid for a calendar year was equal to or greater than your qualified tuition and related expenses in a calendar year, you will not receive a 1098-T.
The IRS classifies academic credit as credit awarded by an eligible educational institution for the completion of course work leading to a postsecondary degree, certificate, or other recognized postsecondary educational credential.