Important Tax Information
Electronic Delivery of IRS Form 1098-T will be available for 2015 taxes!
Federal regulations allow those eligible to receive IRS Form 1098-T the option to receive the form electronically instead of through the mail. As a result, Bethune-Cookman University students will be able to view and print an official IRS Form 1098-T through TSC1099 Web Services rather than wait for the form to be mailed. When you give consent, you may view the form as soon as it is available each January.
Following are the benefits to receiving the 1098-T electronically:
- Electronic delivery will provide access to Form 1098-T as soon as they become available.
- Online delivery eliminates the chance that the 1098-T will get lost or delayed during delivery.
- Signing up for online delivery is easy and is available at any time.
Use the following steps below for electronic delivery:
- Log in to www.tsc1099.com
- In Site ID type 10703
- In Username type Student ID (leading zeroes not required)
- In Password type Last 4-digits of your Social Security Number (first-time users only)
- Click Log In
*Please note if you logged in previously or last year you will need to use the password you created during that time. If you are not able to remember your password, please click on the forgot password link above, Please enter your information to begin:
What is the 1098-T form?
The 1098-T form also referred to as the "Tuition Payment Statement", is mailed to the student by Bethune-Cookman University to assist you, the taxpayer, in determining if you are eligible to claim tax credits such as the Hope Scholarship Tax Credit or the Lifetime Learning Tax Credit for educational expenses.
What are the Hope Scholarship Tax Credit and the Lifetime Learning Tax Credit?
To review information about these two Tax Credit options as a result of the Tax Relief Act of 1997, you may access IRS Publication 970, "Tax Benefits for Education".
Where can I view my 1098-T information on Wildcat Web?
You can view the information contained within the 1098-T through Wildcat Web by clicking:
- CURRENT STUDENTS
- STUDENT ACCOUNT INFORMATION
- MY 1098-T INFO
Why is there nothing represented in Box 1 on my 1098-T?
Institutions of higher education have the option of reporting either payments received (Box 1) or qualified charges billed (Box 2) to the IRS.
What charges are considered "qualified" or "eligible" charges?
Eligible or qualified charges are any in-state or out-of-state tuition charges plus the following fees: athletic, recreation, student activity, technology, B-CU institutional and testing fees.
What charges are considered "non-qualified" charges?
Non-qualified charges include the following: books, housing, meal plan, health fee, insurance, or any transportation fees or costs.
What is the timeline for the 1098-T?
Bethune-Cookman University will report all charges billed to the account within the calendar year (Jan. 1st-Dec. 31st).
Why do my Spring semester charges not appear on my 1098-T?
Students automatically charge their accounts by registering for classes. If you registered during early registration (typically Oct. or Nov.), you charged your account at that time, making those charges eligible to claim the previous year and should have reflected on the previous year's 1098-T.
Please note that it is oftentimes the case that if the student receives the HOPE scholarship, it will apply to the account in Jan. for the spring semester, so while the student's charges will appear on the previous year's 1098-T, the HOPE scholarship will often appear on the current 1098-T.
My 1098-T was mailed to the wrong address. How do I obtain a duplicate copy?
To obtain a duplicate 1098-T form, you may access:www.tsc1099.com
Once there, click:
- SITE ID: 10703
- USERNAME: Student ID
- PASSWORD: Last 4-digits of your Social Security Number
From here, enter the required information and a copy of the 1098-T will be emailed to you.
Why was my 1098-T mailed to the wrong address?
1098-T forms are mailed to the student's permanent residence listed in Wildcat Web. If your 1098-T was mailed to the wrong address, please make sure all information in Wildcat Web is currently up-to-date. You can ONLY update address information by going to the Registrar’s office.
Do I actually submit the 1098-T with my tax return?
There is no requirement for the 1098-T to be attached along with your tax return. This document may be kept for your personal records.
How are VA Benefits reported on my 1098T form?
Beginning in 2012, VA Benefits received under the Post 9/11 GI Bill is now reported as scholarships on the 1098-T form in Box 5. Although VA benefits are not considered a resource when need is calculated, the IRS has recently defined Box 5 to include payments received from governmental entities. The definition of Box 5 is:
The total amount of any scholarships or grants administered and processed during the calendar year for the payment of the student's costs of attendance. Scholarships and grants generally include all payments received from 3rd parties (excluding family members and loan proceeds). This includes payments received from governmental and private entities such as the Department of Defense, civic, and religious organizations, and nonprofit entities.
For more information, you may access http://www.irs.gov/pub/irs-pdf/i1098et.pdf.
I still have questions. Who can I contact?
Any further questions can be directed to a representative in the Office of Student Accounts via email at firstname.lastname@example.org or phone @ 386-481-2507. You may also want to consider viewing the following Web sites for more detailed information:
- http://www.irs.gov (type 1098-T in search box)
- IRS Publication 970, "Tax Benefits for Education"
*Bethune-Cookman University is not authorized to offer any personal tax advice. Please address all questions and concerns regarding personal tax matters to a tax consultant/advisor or the IRS directly @ 1-800-829-1040.