1098-T Tax Form
1098-T Tax Form
At Florida Gateway College (FGC), we are committed to helping our students understand important tax documents, such as the IRS Form 1098-T. This form provides information about tuition and related expenses that may assist eligible students in claiming education-related tax credits or deductions.
What is a 1098-T Form?
The 1098-T is a tax form issued by educational institutions to students who paid qualified tuition and related expenses during the calendar year. It reports payments received or amounts billed for qualified tuition, as well as scholarships or grants applied to a student's account.
Who Receives a 1098-T?
FGC provides 1098-T forms to students who meet IRS eligibility requirements, typically those who paid qualifying educational expenses in the calendar year. If you did not have any qualifying transactions or your educational expenses were fully covered by scholarships, grants, or other aid, you may not receive a 1098-T.
How do I access my 1098T electronically?
- Log into the MyFGC portal
- Select: Tuition and Payment
- Select: Tax Forms on left menu
- Tax forms – If students were eligible to receive a 1098T the tax form will be viewable here or you can sign up for paperless delivery when they are made available. If you do not have any qualifying transactions, it will show “No Tax Forms available”. If the students feel they should have a 1098T, they can contact the Business Office through the “Help” link located right under “Tax Forms”
Remember, by acknowledging that you are receiving this form electronically, a hard copy will not be mailed to you. However, you can go to the website as often as needed to retrieve a copy.
When will I get my 1098T if I do not access it electronically?
All paper copies of 1098T will be mailed on or by January 31st per federal requirements.
Why don’t I have a 1098T available?
If your Scholarship and Grants box (Box 5) is greater than your Payments Reportable box (Box 1) you are exempt from receiving a 1098T.
Are my book store charges included on my 1098T?
No, your 1098T only includes qualifying tuition related charges. Any purchases made for books, supplies, living expenses or anything else related to your education need to be discussed with your tax professional.
Are my resident life and meal plan charges included on my 1098T?
No, your 1098T only includes qualifying tuition related charges. Any purchases made for books, supplies, living expenses or anything else related to your education need to be discussed with your tax professional.
My tax professional wants a 1098T even though I am excluded from receiving one. What do I do?
You are able to access your student account summary on your MyFGC. Your account detail by term will show your tuition charges, all forms of payments, and any refunds made to you.