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1098-T Tax Information for Students

The Internal Revenue Service requires that Randolph College report qualified tuition and expenses and scholarships and grants invoiced or posted to all degree seeking student accounts on Form 1098-T. The 1098-T is an information return that assists students in computing certain education tax credits or deductions for which they may be eligible when they file annual income tax returns.

For tax information regarding this form, please visit the IRS Publication 970 (www.irs.gov/form1098t) where detailed information is provided about tax benefits for education. For additional information and guidance, please consult your professional tax preparer.

An email, to the student’s Randolph College email address, will be sent each year in mid-January. The email will be sent from getmydocument.com. Once the student opens and reviews the document, a paper 1098-T form will not be mailed. If the student does not view the document then a paper 1098-T form will be mailed to the address on file in the Business Office on or before January 31st.

How to Retrieve Your 1098-T Form

You may obtain a copy of your 1098T form by logging into University Accounting Services’ website at:  http://www.getmydocument.com

Be sure that you are entering the following:

  • Certificate ID from the email that was sent (If you do not have the Certificate ID please click on the green button that says Certificate Needed on the bottom left hand corner)
  • Select University
  • The last four digits of the student’s SSN
  • Student’s first and last name
  • The security code at the bottom of the page  (You may need to refresh the page to generate a new security code if it has been over a minute since you last clicked submit)

If you have any questions, please call the Business Office at (434) 947-8618 or (434) 947-8896.

Collection of Social Security Numbers

Randolph College is required to collect Social Security Numbers (SSN) or Taxpayer Identification Numbers (TIN) from all degree seeking students in accordance with the Internal Revenue Service (IRS) regulation 1.6050S-1. The IRS also requires the College to notify all degree seeking students that if they choose not to disclose their SSN or TIN, they may personally be subject to a $100 penalty imposed by the IRS. Additional information regarding the IRS requirements may be found under the IRS 1098-T form publication.

Students are asked to supply their SSN or TIN to the College accurately on the admissions application and include their legal name as it appears on the Social Security Card or Taxpayer Identification. If the SSN or TIN that the College has on file is not correct, please notify the Registrar’s Office immediately.

International Students

Effective for tax year 2014, the Business Office will no longer provide 1098-T forms to international students. We will provide an account summary to you at your request. To request an account summary please email businessoffice@randolphcollege.edu. Your request will take approximately 3-5 business days to complete.

Frequently Asked Questions about Form 1098-T

Q:        What is Form 1098-T?
A:         We are required by the IRS to provide Form 1098-T to students for whom qualified tuition and fees were invoiced (or billed) during the calendar year.

Q:        Why did I receive Form 1098-T?
A:         Form 1098-T has been provided to assist the taxpayer in determining if you the individual, or who may claim you as a dependent, are eligible to claim a Lifetime Learning Credit on the income tax return.

Q:        Why did I NOT receive Form 1098-T?
A:         There are several possibilities: 1) The IRS does not require us to send one if your scholarship and aid exceeded the invoiced amount. 2) We do not have a valid United States mailing address or Social Security Number on file for you. Please complete form W-9S at http://www.irs.gov/pub/irs-pdf/fw9s.pdf and remit to the Registrar’s Office. 3) Your invoiced amounts consisted of only non-credit courses. 5) You accessed your 1098-T form via getmydocument.com and opted out of receiving a paper form in the mail.

Q:        Where was my form mailed?
A:         Your 1098-T form will be mailed (if not accessed electronically) based on the address provided by the student to the Registrar’s Office.

Q:        I viewed my 1098-T online. Will I get a paper copy?
A:         No, by providing consent to view your 1098-T online, you opted-out of receiving a paper copy.

Q:        Is the 1098-T form printed from Getmydocument.com valid for the IRS?
A:         Absolutely. The 1098-T form from Getmydocuemnt.com is an IRS approved substitute.

Q:        I paid $5,000 last year. Why does my 1098-T only report $2500 in Box 2?
A:         Your 1098-T will show the amount invoiced to your student account from January 1-December 31 of the tax year, not the amount paid.

Q:        What about room and board and books? Why are they not included in the amount billed?
A:         Only qualified tuition and related expenses are reported on your 1098-T. Please consult your professional tax advisor with questions regarding “qualified expenses”.

Q:        What do amounts on the form represent?
A:         Institutions may report either payments received during the calendar year in Box 1 or amounts billed in Box 2. Randolph College chooses to include amounts billed in Box 2, therefore leaving Box 1 blank. Box 5 shows the total of all scholarships or grants administered and processed by the College. The amount of scholarships or grants for the calendar year (including those not reported by the institution) may reduce the amount of the education credit you claim for the year. Box 8 is checked if you are considered to be carrying at least one-half of the normal full-time workload for your course of study.

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