Can I retrieve my 1098-T on-line?
Yes. You may print your 1098-T form anytime by logging into the MyCF portal and viewing the "Finances Tab."
What is the 1098-T form?
The 1098-T form is used by eligible educational institutions to report information about their students to the IRS. A 1098-T form must be provided to each applicable student and is considered for informational purposes only. The form serves to alert students that they may be eligible for federal income tax education credits. Eligible educational institutions are required to submit the student's name, address, taxpayer’s identification number, enrollment status, academic status, qualified tuition/related expenses as well as scholarships/grants.
What educational expenses are considered as qualified tuition and related expenses?
The following are examples of expenses included: Tuition; Student Activity Fees Attached to Classes; Lab Fees; Learning and Support Fees
The following are example of expenses not included: Housing and Dining Costs; Books, Supplies and Equipment; Testing Fees; Application Fees; Transcript Fees; Diploma Fees; Library Fines; Parking Fines; Non Credit Course Fees (not part of a degree or certificate)
Visit the IRS Website for more information about qualified educational expenses: http://www.irs.gov/publications/p17/ch35.html#d0e74760
What is the timeline for the 1098-T?
The College of Central Florida will report all amounts billed for qualified tuition/fees and scholarships/grants within the calendar year (January 1st - December 31st) if the amount billed exceeded the amount of scholarships and grants awarded.
Why isn't there an amount in box 1?
The IRS allows educational institutions to choose to report either payments received (Box 1) or amounts billed for qualified tuition and related expenses (Box 2) on the 1098-T form. The College of Central Florida has chosen to report qualified tuition and related expenses (Box 2) and scholarships and grants (Box 5), therefore, Box1, will remain blank. Also, loan information is not reported on the 1908T form.
Why do my Spring 2016 semester charges not appear on my 1098-T?
Students are automatically charged upon registering for classes. If you registered during early registration (September - December), your account was charged at that time, making those charges eligible to claim the previous year (2015) and should have reflected on the previous year's 1098-T.
What other information do I need to claim the tax credit?
The 1098-T form serves to alert students that they may be eligible for federal income tax education credits. Receipt of Form 1098-T does not indicate eligibility for the tax credit. To determine the amount of qualified tuition and fees paid, and the amount of scholarships and grants received, a taxpayer should use their own financial records.
How can I get an itemized listing of the financial activity that is on my 1098-T form?
Account statements are available online at https://mycf.cf.edu (student portal).
- Log into MyCF.
- Click on the Finances tab.
- Click on Fee Statement.
- Select a Term in the drop down box.
- Click Generate my Fee Statement.
How do I get a reprint of my 1098-T form?
If you did not receive a 1098-T due to a change of address, or you misplaced the form, you can print a duplicate by logging into your account at https://mycf.cf.edu (student portal) and following the steps below:
- Log into MyCF.
- Click on the Finances tab.
- Click on 1098-T Info.
- Click on Go to My 1098-T Info.
- Select the Year from the drop down box.
- Click Printer Ready to print your 1098-T form.
Please be advised that the College of Central Florida will not mail any duplicates.
My address listed on the 1098-T has changed. Will this affect me?
No. The address shown on Form 1098-T is irrelevant for IRS income tax filing purposes. The single most important information on the form is your Social Security Number.
What if the Social Security Number or Individual Taxpayer Identification Number is incorrect on my 1098T?
If the 1098-T does not include the correct Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN), please contact the Enrollment Service (352-854-2322, ext. 5802), so they may correct your student record. Once the SSN/ITIN is corrected on your student account you may contact Student Accounts (352-854-2322, ext 1213) for further assistance. A Student Accounts staff member will ensure that a new 1098T form gets generated and the correct information is refiled with the IRS.
What if anything else is incorrect on my 1098-T?
If you have discovered a discrepancy on the 1098-T form please contact the Office of Student Accounts (352-854-2322, ext. 1213) and a member of our staff will be able to assist you.
Why does the College of Central Florida need my Social Security Number?
As it pertains to the 1098T form, the College of Central Florida needs to have the correct social security number for all students that attend the university to comply with the IRS requirements. Every year, as an eligible educational institution, the College of Central Florida must report enrollment information for all eligible students in connection with the Hope Scholarship Credit and the Lifetime Learning Credit.
What if I still have questions?
If you have any additional questions or concerns, please call the Office of Student Accounts (352-854-2322, ext. 1213).