1098-T Information

Click here to print the pdf form of this document. 

1098-T FAQ 

 

 

Consent to receive your 2016 1098T form electronically, the process is secure, paperless, and a cost effective way to receive this important and confidential information.

Simply follow the steps outlined below to receive your 1098T form electronically:
1. Sign into your GMC Online account.
2. Enter in your GMC email address and password (First time students: Last seven digits of SSN).
3. Under the Web Advisor section (lower right side of the page), select Financial Information.
4. Select 1098 Electronic Consent.
5. Click the first selection to receive your 1098 electronically.
6. Once your selection is complete, click the submit button.
 

Having trouble logging into GMC Online?
Send an email to webmaster@gmc.cc.ga.us

What is a 1098T form?
Each calendar year, Georgia Military College is required by the IRS to prepare the 1098-T form for each college student enrolled and having qualified expenses billed during the calendar year.   The information on the 1098T form is provided to assist the college student with filing for the education tax benefits/tax credit deductions, such as the Lifetime Learning Tax Credit, Hope Scholarship, Tax Credit, or the Above-the-Line Tax Deduction for Qualified Higher Education Expenses. See the IRS website for more information.

Why is Box 1 Empty?
Schools can choose to either report qualified charges by payments received for qualified charges or by amounts billed. Georgia Military College’s financial software reports 1098T information by amounts billed. Because of this, Box 1 will always be empty.

What charges are reflected in Box 2?
Qualified tuition and related expenses are tuition, fees, and course materials required for a student to be enrolled at or attend an eligible educational institution.

The following are not qualified tuition and related expenses.
• Amounts paid for any course or other education involving sports, games, or hobbies, unless the course or other education is part of the student's degree program or is taken to acquire or improve job skills.
• Charges and fees for room, board, insurance, medical expenses (including student health fees), transportation, and similar personal, living, or family expenses.  (IRS Cat. No. 27990J)

Box 2 may also include charges for terms beginning January 2017, if charged in 2016,
as indicated in Box 7.

What is reflected in Box 4?
Box 4 reflects reductions in charges for qualified tuition and related expenses made during this calendar year that relate to amounts billed that were reported in a prior year. This could impact a tax credit for a prior year. Your tax preparer should be consulted.


What is reflected in Box 5?
Box 5 reflects the total of scholarships and grants that were posted to the tuition account during calendar 2016. This may also include additional scholarship and grant funds posted late for a prior year.

What is reflected in Box 6?
Box 6 reflects reductions in scholarships and grants reported for a prior year. This could impact a tax credit for a prior year. Your tax preparer should be consulted.

What is reflected in Box 7?
If Box 7 is checked, the amount in Box 2 includes amounts for an academic period beginning January-March, 2017.

Frequently Asked Questions:

When will the 2016 1098T be released to college students?
If electronic consent is not elected, GMC will mail the 2016 1098T Forms to the college student’s address of record on January 31, 2017.   College student who elected to receive the form electronically will receive typically receive an email in by the third week in January stating the 1098T forms are ready to be viewed/printed. 

How do I view/print my 1098-T form?
To view/print your 1098-T form, log into your GMC Online account and follow the links to WebAdvisor. Once in WebAdvisor, click on the "View my 1098-T Forms" and select the appropriate year. (You have to click Financial Information)
Instructions on downloading your 1098T form.

Why did I get a 1098-T form?
Georgia Military College is required to send a 1098-T form to any student that was enrolled and had qualified expenses billed during the previous calendar year.

Why didn’t I get a 1098-T form?
There are several reasons why a 1098-T form may not be generated or received:
• You received more scholarships and/or grants than the amount of qualified tuition and fees billed.
• You didn’t provide us with your Social Security Number (SSN)
• Your 1098-T for was sent to an incorrect address.

I still do not understand my 1098T, what do I do?
Send an email to 1098T@gmc.edu.  In the email you will want to provide as much detail as possible as to why you do not understand your 1098T form.  Georgia Military College can only answer questions related to how the form was prepared. 

Instructions to Remove Electronic Consent to Receive 1098T

GMC does not provide Tax Advice. All students, parents, or guardians should consult with
their Tax Preparer concerning Tax Filing requirements.