Form 1098-T is a form that colleges and universities are required to issue to students for the purpose of determining a tax payer's eligibility for education tax credits and/or deductions.
For more information about Form 1098-T: https://www.irs.gov/pub/irs-pdf/f1098t.pdf
Box 1 Payments received for qualified tuition and related expenses
Box 1 includes the amount of QTRE paid on the student account from any payment sources such as, but not limited to:
- Payments made by cash, check, electronic check, or credit/debit card.
- Payments made from federal or private educational loans posted to the student account.
- Payments made with scholarships or grants from any source posted to the account, unless the award was specifically intended to pay a non-qualified charge.
The date a payment is applied to a qualified charge is what matters for Box 1, not the date that charges are posted to the student account. Payments that apply to qualified charges during the tax year are included in Box 1. Payments that apply to non-qualified charges are excluded from Box 1.
Box 5 Scholarships or Grants
Box 5 identifies the total scholarships or grants posted to your student account during the calendar year. In compliance with IRS regulations, the value you will see in Box 5 will be the sum of ALL grants and scholarships, even those that pay charges that are not QTRE.
Higher Education Emergency Relief Fund and Emergency Financial Aid Grants under the CARES Act are not includable in box 5 above
Additional Information Provided on the 1098-T
Box 4 includes adjustments to the amount of QTRE that was paid and reported in Box 1 for any prior tax year.
Box 6 includes reductions to the amount of scholarships or grants that were reported in Box 5 for any prior year.
Box 7, if checked, indicates that Box 1 includes payments received for QTRE for an academic period that begins in January through March of the next calendar year. For example, if you paid for spring QTRE during November or December of last year, this box will be checked.
Box 8 shows whether you are considered to be carrying at least one-half the normal full-time workload for your course of study for at least one academic period during the calendar year.
This form is intended to assist you or your parents in the preparation of your federal income tax return. The College sends the form out to assist you or the person who can claim you in preparing your taxes and reports the information to the Internal Revenue Service. The form should not be considered as tax opinion or advice. Please provide the information needed to your tax preparer to determine if you are eligible for any tax credits. Please be aware that the responsibility for your individual tax circumstances rests with the taxpayer alone, and the College cannot take responsibility for your interpretation of this information.
Bunker Hill Community College and its employees cannot provide tax information, assistance, or advice. If you have any questions, you should consult with a qualified tax professional, your accountant or contact the IRS Taxpayer Assistance line at 1-800-829-1040. The IRS web site (http://www.irs.gov/) has many documents, including some self-help topics for tax filers.
BHCC is not required to file Form 1098-T or furnish a statement for:
- Non-credit program courses for which no academic credit is offered, even if the student is otherwise enrolled in a degree program.
- Nonresident alien students unless requested by the student. Students may email his/her request to studentcentral@bhcc.edu or you may call (617) 228-2370. Please be sure to provide us with your full name and Student Identification number so that we may access your account.
- Students whose qualified tuition and related expenses are entirely waived or paid entirely with scholarships, Federal grants (PELL, SEOG, etc.) and state grants such as Massachusetts cash grants.
- Students whose qualified tuition and related expenses are covered by a formal billing arrangement between BHCC and the student's employer or a government entity, such as the Department of Veterans' Affairs, Massachusetts Rehabilitation Commission, AmeriCorps, etc..
BHCC is required annually to furnish you with a Form 1098-T, Tuition Statement, which reports qualified tuition and related expenses associated with your enrollment at BHCC. In order for us to prepare the forms accurately, Federal law requires you to furnish us with your correct taxpayer identification number (TIN). Generally, this number will be your Social Security Number (SSN) or, if you are not eligible to obtain an SSN, you must obtain an individual taxpayer identification number (ITIN) from the Internal Revenue Service (IRS) and provide that number to us.
If you did not provide this information upon enrollment or admissions, you must provide it on the BHCC Substitute Form W-9S by December 31 of the tax year, available here: https://bhcccentral.etrieve.cloud/Index#/form/26
If you experience issues completing the form at the link above, you can complete this form and take it to Student Central by December 31 of the tax year.
Failure to furnish your correct SSN or TIN to BHCC may result in the IRS assessing you a penalty.
BHCC generates thousands of 1098-T forms each year. Each form must be postmarked (if mailed) by January 31. You could receive yours prior to the deadline by doing the following:
- Log into https://selfservice.bhcc. edu/student
- Enter your User ID and Password to log on
- Click on Tax Information
- Click on Current Tax Year Statement to view/print the current year tax form
It will be mailed to your address listed in your BHCC student profile. The “Preferred” address is our first choice. If you changed your address, please update your address at Student Central.
NO. The fastest way to obtain your 1098-T information is to follow these instructions to get a copy of your form.
- Log into https://selfservice.bhcc.edu/student
- Enter your User ID and Password to log on
- Click on Tax Information
- Click on the Current Tax Year Statement to view/print the current year tax form
As required by FERPA (Family Educational Rights & Privacy Act of 1974), Bunker Hill Community College and its personnel cannot provide this information directly to parents, other persons who may claim the student as a dependent, or a third party. If you are claimed as a dependent on another person's tax return (such as your parent's return), you are responsible for providing them with the information. To give them proxy access to your information, please login to self-service and complete the Authorized User Request form to grant access.
For additional information on FERPA, please visit the following website: https://www2.ed.gov/policy/gen/guid/fpco/ferpa/index.html.
Follow the instructions for the question (When will my 1098-T be mailed to me?)
It provides you and your tax preparer with information on amounts which may reduce your tax liability.
Consult your accountant, tax preparer, or Internal Revenue Service (https://www.irs.gov) on which amounts you can include for tax purposes.
You may access your statement by logging into https://selfservice.bhcc.edu/Student/Finance/AccountSummary and choosing Account Activity by term.
Please contact the Internal Revenue Service (IRS) at 1-800-829-1040 or consult a personal tax advisor for further information relating to your eligibility for and/or calculation of these tax credits.
Per the IRS, the college is required to collect a Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN) from all students enrolled in credit courses who have a qualified reportable transaction. This form, or a similar substitute, is sent to all students, including dual enrollment students talking credit courses with reportable transactions, for whom no SSN/ITIN is currently on file. More information can be found on the IRS website.
BHCC is required by the IRS each year to issue form 1098-T to students enrolled and have reportable transactions. Your enrollment in the dual enrollment program at BHCC qualifies you to receive form 1098-T. It may be possible for you to receive a tax credit, please visit the IRS website for more information and speak to a tax professional. BHCC cannot give tax advice.