1098-T Tax Form
What is a 1098-T form and why do I need one?
- All eligible educational institutions must file Form 1098-T to report information to the Internal Revenue Service (IRS) for each qualifying student for whom a reportable transaction is made during the calendar tax year. The 1098-T form that you received is for your use in preparing your federal income tax return. Please note that your 1098-T form may not provide all of the information you need to determine eligibility for tax credits and deductions. Eligibility for any tax benefit depends upon your individual facts and circumstances and the College/District cannot provide you with any tax advice.
When should I receive my 1098-T from Allan Hancock College?
- The 1098-T paper forms are mailed to students by January 31st, to the address on file with Allan Hancock's Admissions and Records Office as of the first week of January.
- If you consent to receive an electronic version of the form, it will be made available by mid-January.
Will I receive a 1098-T (paper or electronic) from Allan Hancock college?
Yes, if you:
- Were enrolled in Allan Hancock College credit courses during any semester in the calendar year and paid fees more than the scholarships and financial aid you received.
- Registered for spring courses for the following year and paid fees by December 31 of the current reporting year.
I did not receive my 1098-T form. Where can I get another form?
- Check your address through the myHancock portal. If it is not correct, please be sure and update your address. 1098-T forms returned to Allan Hancock College will be forwarded to updated addresses.
- If you have not updated your address information at Allan Hancock College but have a “forwarding” order with the post office, your 1098-T form will be forwarded to your new address.
- Go to your myhancock portal, click on the View your 1098-T Tax form link and print your form.
Can I update my information with Allan Hancock College?
- You can always update and/or correct your personal information with Allan Hancock College. Updates to names and social security numbers require a social security card. Address updates may be made through your myHancock portal and at the Admissions and Records Offices at all campus locations. To verify/correct your address do the following - log on to myHancock, select the Update Email and Contact Information link, make any necessary changes.
- Please note, we will not update your personal information with the IRS.
How can I get my fee information if I no longer have my receipts?
- Allan Hancock College is required to provide fee information on the 1098-T form based on the guidelines provided by the IRS. Allan Hancock College will print the eligible fees paid for the year.
- Students may request a copy of fees paid by sending a written request & self-addressed stamped envelope to Allan Hancock College, District Cashier Office, 800 S. College Dr., Santa Maria, CA 93454.
I'm a parent. Can I have my student's 1098-T form sent to me?
- Students must make all information requests. The student is responsible for providing information to other parties in accordance with FERPA (Family Education Right to Privacy Act) http://www.ed.gov/policy/gen/guid/fpco/ferpa/index.html.
Who do I contact if I think the information is incorrect?
It is important to remember that the amount on this form consists of payments made to the District in a calendar year. Contact the Cashiering Office at 805-922-6966 or email email@example.com if you feel the information is incorrect.
Which fees are eligible for the Tax Credit?
- IRS Guidelines (Pub. 970) state that: “Tuition and Fees that must be paid to an eligible institution (Allan Hancock College) as a condition of enrollment or attendance…” are eligible to be claimed.
- At Allan Hancock College these fees include: Enrollment Fee, Non-Resident Tuition, Material Fee, and Student Center Fee.
- Fees specifically excluded by the guidelines include: Health Fee, ID Card, Student Representation Fee, and Parking Fee.
- Please contact your tax preparer or the IRS website at https://www.irs.gov/pub/irs-pdf/p970.pdf for information related to your Education Tax Credit questions.
important note about social security numbers
- Under federal law, you are required to provide your Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN) to the college for reporting tax information on the 1098-T Tuition Statement. If you fail to furnish your correct SSN or ITIN to Allan Hancock College, the IRS may impose a penalty of $50.00 unless your failure is due to reasonable cause and not willful neglect.