1098-T Information

1098-T Information

 

Frequently Asked Questions

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.

How do I access by 1098T for current and prior years?

Click the Student Finance Self Service link. After entering the Student Finance Self Service area, the student will be prompted to enter their username and password.  Then, students must click Tax Information.  From the Tax Information area, students can:
1. Select 1098T Consent Preference
    • Receive my 1098T only in electronic format. Student can view/print your               1098T form from Student Finance Self Service. Click Save.
    • Withhold my consent.  1098T in paper format will mailed to the student’s             address of record by the Student will receive the 1098T in paper format by         January 31st. Click Save.
Instructions for the 1098T Electronic Consent
 
2. Print/View 1098T
    • Student must select the 1098T he/she would like to view/print.
    • 1098T will appear on their electronic device. The student has the option to         print or save the document.

Instructions for Printing/Viewing the 1098T

Having trouble logging into Student Self Service, Viewing, or Printing 1098T form?

Send an email explaining your situation to webmaster@gmc.cc.ga.us.
 

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 by January 31, 2017.  College students who elect to receive the form electronically will receive an email, typically by the third week in January, stating the 1098T forms are ready to be viewed/printed.
 

Why did i get a 1098-T form?

Georgia Military College is required to send a 1098-T form to any student enrolled who had qualified expenses billed during Tax Year 2016.
 

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 please 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.
 

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 included 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 included in Box 4?

Box 4 reflects reductions in charges for qualified tuition and related expenses made during this calendar year related 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 included in Box 5?

Box 5 reflects the total of scholarships and grants 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 included 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 included in Box 7?

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

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