FAQ 1098-T

Frequently Asked Questions Concerning Form 1098-T

The following provides general information related to the 1098-T tax form and is not tax advice.

Due to federally mandated tax reporting requirements effective for calendar year 2018, Horry-Georgetown Technical College will now report all payments for qualified tuition and related expenses in Box 1. Please note this is different from prior years where only "billed" information for qualified tuition and related expenses was reported in Box 2.

What is a Form 1098-T?
The Form 1098-T is the information that HGTC is required to issue for the purpose of determining a student’s eligibility for certain education tax credits.  The information is reported to the student and the IRS.  Learn more about education tax credits or view the memorandum from the Commission on Higher Education.

Why did I receive a Form 1098-T?
A Form 1098-T is provided by HGTC to each eligible student.  The Form 1098-T reports amounts paid for qualified tuition and related expenses, as well as other related information.  The student, or an individual who can claim the student as a dependent on his/her tax return, may be eligible for federal income tax education credits when filing a Federal Income Tax Return. 

When will the Forms 1098-T be mailed?
Forms 1098-T will be mailed by January 31st. Students may also access Form 1098-T information through their myHGTC account.    

Where will the Forms 1098-T be mailed?
A Form 1098-T will be mailed to your permanent address on file with the college, unless that address is not a valid address. A mailing address will be used, if available, when the permanent address is not valid. 
NOTE:  All Eligible students will receive the 1098T forms via their myHGTC account. Log into your myHGTC account. Find the “Manage My Student Account” card, and click “Tax Notifications” to enter the tax year.

What should I do if I haven’t received my Form 1098-T?
If you have not received a Form 1098-T or unable to access the information via your myHGTC account by February 15th, please call the Student Accounts Office at 843-349-5310.

What amounts are included in Box 1, “Payments received for qualified tuition and related expenses?”
Box 1 of Form 1098-T reports amounts paid during the tax year for qualified tuition and related expenses. 

Why isn't there an amount in Box 2, “Amounts billed for qualified tuition and related expenses?”
In previous years, Box 2 reported amounts billed for qualified tuition and related expenses.  Beginning in 2018, the IRS requires information to be reported in Box 1 of amounts paid for qualified tuition and related expense; therefore, Box 2 will be blank.  

Why is Box 3 marked?
Due to federally mandated tax reporting requirements effective for calendar year 2018, HGTC has changed the method of reporting.

What amounts are included in Box 4, “Adjustments made for a prior year?”
Box 4 reports adjustments made to qualified tuition and related expenses reported on a prior year Form 1098-T in Box 2.  Due to the reporting method changes, there may not be an adjustment reported for the 2018 tax year. 

What amounts are included in Box 5, "Scholarships or grants?"
Scholarships and grants administered and processed by the College are included in Box 5. Please note that you may receive additional scholarships that the College does not administer and process. These should also be taken into consideration when determining your eligibility for the credits.

What amounts are included in Box 6, “Adjustments to scholarships or grants for a prior year?”
Box 6 reports decreases to amounts reported as scholarships and grants in Box 5 of a previously issued Form 1098-T. Box 6 reports adjustments made to scholarships and grants reported on a prior year Form 1098-T in Box 5.  Due to the reporting method changes, there may not be an adjustment reported for the 2018 tax year. 

Why isn't there a check mark in Box 8, “Checked if at least half-time student?”  
Box 8 will not be checked if the student was not enrolled at a half-time status during an academic period during the specified tax year.  HGTC checks this box if you were enrolled half-time or more for at least one academic period that began during the specified tax year.     

How can I get help in determining if I am eligible to take one of the credits?
HGTC cannot offer tax advice or assistance in determining if you are eligible to claim a credit or the amount of the credit.  Additional information concerning the American Opportunity Credit, the Lifetime Learning Credit, and the Tuition and Fees Deduction is available on the IRS website at http://www.irs.gov.  Questions concerning eligibility should be directed to the IRS or your tax advisor.