End-of-Year Tuition Statements for IRS Purposes
Schenectady County Community College is required to provide 1098-T, Tuition Statements to all students who meet the criteria set by the Internal Revenue Service. This form reports the amounts billed for qualifying tuition and fees as well as grants and scholarships posted to your account in the calendar year. The information on the 1098-T is being provided to assist students with filing for the education tax benefit/tax credit deductions.
For more information visit the IRS Web site and search for Publication 970, Tax Benefits for Education.
Some important reminders about the 1098-T:
* Your 1098-T tax form reports the amounts billed to your account in the calendar year, and is for your information only. Unlike a W-2, for example, you may find that you do not enter the exact amounts from the 1098-T onto your tax return. Figures entered on your tax return are amounts that you have paid for qualifying tuition and fees.
* The College is not required to provide forms for students if your grants and scholarships for the year were equal to or greater than your qualifying tuition and fees; or you do not have a Social Security number on file.
Schenectady County Community College cannot provide you with tax advice. Use your 1098-T Tuition Statement as a guide for claiming any tax credits and/or deductions that you may be eligible for or consult your tax professional.
Schenectady County Community College's federal identification number is 14-1503935.