Forms You May Need

1098-T Frequently Asked Questions

Why did I receive a 1098-T?

Educational institutions are required by law to report to students the amount of qualified tuition and related expenses that have been billed to the student during the calendar year.  Western Technical College has reported the qualified expenses during the calendar year (January 1st – December 31st). Western Technical College mails paper copies of the 1098-T form to students each January and also reports this same information to the IRS.

Why are my payments not listed in Box 1?

Institutions must choose to report either (Box 1) payments received for qualified tuition and related expenses or (Box 2) amounts billed for qualified tuition and related expenses.  Since payments made are not directly allocated to specific charges and it would be impossible to verify if a certain payment was designated for a certain charge, Western Technical College elects to report “Total Amounts Billed” Box 2.

What is included in Box 2?

Box 2 includes tuition and mandatory fees that were billed between January 1 and December 31.  Qualified tuition and fees include tuition charges as well as mandatory student fees.   Also, we report the total amount of qualified tuition and fees in a given year.  For example, if the tuition and fees for the spring of 2016 are billed in December 2015, the amounts will be reflected on the 2015 1098-T form.

Why is there an amount in Box 4?

If there is a change in enrollment information that created a change in billed tuition after the previous year’s 1098-T was generated that amount will be recorded here.

Why is my enrollment status reported?

To assist the student and the IRS in determining if the student qualifies for these tax credits, Western Technical College is required to indicate whether the student was enrolled at least half time for one semester during the calendar year. 

How do I use the 1098-T for tax purposes?

Western Technical College urges you to contact a tax professional regarding the application of this form to your taxes. Employees of Western Technical College can’t provide tax advice.

When will I receive my 1098-T?

The 1098-T form must be post-marked by January 31st of each year. Students may elect to receive an electronic copy of their 1098-T and opt out of receiving a mailed copy of their 1098-T. To opt in to receive only an electronic copy of your 1098-T, please go to MyWestern, Finances, Make a Payment, 1098-T.

What are the benefits of receiving the 1098-T form electronically?

There are several reasons such as:

  • Allows the student to access their 1098-T tax form information about 2 weeks earlier than if it were mailed to her/him. Students who do not opt to receive their 1098-T tax form electronically can expect to receive a paper copy of their 1098-T tax form after January 31 each year.
  • There is no chance of it getting lost, delayed, or misplaced since students can access a copy 24/7.
  • Students will also be able to access prior years’ 1098-T tax forms for future needs in a quick and easy fashion.               
  • Students are able to access their electronic copy using their smart phones, tablets, or computer when they need it.             
  • Eco-friendly since no paper is needed.

Why did I not receive a 1098-T?

Western Technical College is not required to issue a form to students whose qualified tuition and related expenses are entirely waived or paid entirely with scholarships, grants and third-party (employer-provided or tax-free tuition assistance) payments (when Box 5 is equal to or greater than Box 2). It is the taxpayer’s responsibility to determine the amount of qualified tuition and fees paid and whether they are eligible for any tax credits. If you believe that you should have received a 1098-T but have not received a mailed copy, please go to MyWestern, Finances, Make a Payment, 1098-T to print off a copy or contact the Cashier’s Office at 608-785-9121 or cashiersoffice@westerntc.edu.

How can I obtain a copy of my 1098-T?

To obtain a copy of your 1098-T, please go to MyWestern, Finances, Make a Payment, 1098-T. 1098-T Forms will not be available on your MyWestern account until mid-late January.

Where can I obtain additional information about Form 1098-T?

The IRS web site (http://www.irs.gov/) provides information about this form.  Publication 970, Tax Benefits for Education can be obtained on this web site or you can call the IRS at 1-800-829-1040.