1098T Tax Forms
The 1098-T, Tuition Statement form reports tuition expenses you paid for college tuition that might entitle you to an adjustment to income or a tax credit. Students who attended or paid fees at Shasta College in 2020 may be receiving a 1098-T Tuition Statement.
Students must have a valid Social Security Number (SSN) on file in order to receive a 1098-T. If your social security number is not on your student account, please update your student account with Admissions and Records as soon as possible.
Shasta College is pleased to offer students the option of accessing their IRS 1098-T Tuition Statement electronically through MyShasta.
The benefits of online access:
- Eliminate the chance that your 1098-T will get lost in the mail.
- Access your 1098-T online from anywhere, anytime.
- Receive your 1098-T online earlier than through the mail.
- Eliminate paper waste from printed forms.
Accessing your 1098-T form online requires your consent.* Follow these steps:
- Go to the Shasta College website (www.shastacollege.edu) and click on Shasta Portal - MyShasta.
- Click on LOGIN.
- Click on Students.
- In the Financial Information section, click on Tax Information (1098-T & W-2 Forms) 1098 Information click Change Preference Click on “Receive my 1098 only in electronic format”
*If you do not provide your consent to receive the 1098-T online, a hardcopy will be mailed to you.
For questions, or more information, please contact Admissions & Records at 530-242-7650 or email email@example.com.
Frequently Asked Questions
The Form 1098-T is a statement that colleges and universities are required to issue to certain students. It provides the total dollar amount paid by the student for what is referred to as qualified tuition and related expenses (or “QTRE”) in a single tax year.
Your Form 1098-T will be available to you electronically on or before January 31 (or the next business day) through MyShasta. If you did not use MyShasta to select receiving your 1098T electronically, a paper 1098T will be mailed to you (postmarked by January 31).
There are potentially many reasons for this discrepancy.
First, the amount in Box 1 only represents amounts paid for qualified tuition and related expenses (QTRE) and does not include payments made for room and board (dorms and food), health insurance, health service fees, or parking which, though important, are not considered mandatory education expenses for tax purposes. The Campus Fee is included in the QTRE.
Secondly, Form 1098-T reports amounts that the student paid in a certain year, and the pay date does not necessarily correspond to the dates that the classes were attended. For example, tuition for the Spring semester is typically billed in November so a student may have paid tuition for the Spring semester in November or December, despite the fact that classes didn’t start January. The best and most accurate source of information about the amounts that you paid for qualified tuition and related expenses will be in your Financial Account in MyShasta.
No, the College does not include amounts paid for books on Form 1098-T. You should consult with your tax advisor to determine if payments for books, equipment or fees should be considered when preparing your income tax returns and determining eligibility for education tax credits or deductions.
Some May 2020 graduates will not be issued a 2020 Form 1098-T because there is a possibility that payments for QTRE for Spring 2020 was made on or before December 31, 2019. If a student paid for the Spring 2020 semester and any other outstanding QTRE charges in 2019, then the student would not receive a 2020 Form 1098-T.
In previous years, Form 1098-T included a dollar amount in Box 2 that represented the qualified tuition and related expenses (QTRE) the University billed to your student account for the calendar (tax) year. Due to a change to institutional reporting requirements under federal law, beginning with tax year 2018, the University must report in Box 1 the amount of QTRE you paid during the year.
If your SSN is incorrect, please contact the Admissions and Records Office to update your Social Security Number and request a new 1098T form. To correct your Social Security Number, you will need to submit a completed copy of the Change of Information/Major form to firstname.lastname@example.org with a copy of a photo ID and a copy of your signed Social Security Card. The form is available on the Admissions and Records Forms for Students webpage under the “Verification Requests” section.