1098T Instructions for Student
Lane Community College reports the amount of qualified tuition and related expenses (QTRE) you paid during the 2020 calendar year in Box 1 of the Form 1098T if you were enrolled in at least six credits during one term.
How to find and print your 1098T
If you have QTRE expenses paid for the 2020 calendar year, you will access your 1098T through your myLane account. Once you log into myLane, click on the “myFinances” tab. On the left hand side of the screen, in the “Account Information” section, you will click on “print 1098T”. You will enter “2020” into the tax year and click “submit” to view and print your form. Your form will NOT be mailed to you.
If you did not provide Lane with your SSN or if you have an expired address, Lane cannot process a 1098T or report your information to the IRS.
If you do not have a 1098T because we do not have your current address, you may update your mailing address through your myLane account. If you do not have a 1098T because we do not have your Social Security Number please complete this form by March 19 2021. Please contact Enrollment Services if you need assistance updating your Social Security Number or Address. If you have updated your address or SSN, please email AskLane@lanecc.edu to request an updated publication of your 1098T.
To see if you qualify for the credit, see Pub. 970, Tax Benefits for Education; Form 8863, Education Credits; and the Form 1040 or 1040A instructions from the IRS.
Lane Community College (LCC) must include its name, address, and information contact telephone number on this statement. LCC may be able to answer some questions about the statement, but is unable to explain the requirements for (and how to calculate) any education credit you may be eligible to claim with the IRS. LCC cannot provide any tax advice.
Box 1. Shows the total payments received in 2020 from any sources for QTRE. The sum of this is less any reimbursements or refunds made that offset those payments during 2020. Please note the amount in Box 1 will NOT equal to or sum to the charges paid for calendar year 2020. Not all charges are considered qualified tuition and related expenses (QTRE) as defined by the Internal Revenue Service. Two examples of non-qualifying charges are the Health Services fees and Transportation fees; therefore, the full amount of these fees paid will not be reported.
Box 2. Effective in tax year 2018, this box is no longer be used. Prior to 2018, it was used for amounts billed for qualified tuition and related expenses.
Box 3. Shows whether your educational institution changed its reporting method.
Box 4. Shows the amount of any adjustments made for qualified tuition and related expenses that were reported on a prior year 1098T. This amount may reduce any allowable education credit you may claim for the prior year. See Form 8863 or the IRS Pub 970 for more information.
Box 5. Scholarships, Grants, Tuition Waivers, and Veterans Benefits: This box reports scholarships, grants, tuition waivers, and veterans benefits posted to your account during the calendar year 2020. These may be paid in cash or may be in the form of direct tuition reductions. Student and alternative loans are not included in this box.
Box 6. Shows adjustments to scholarships or grants for a prior year. This amount may affect the amount of any allowable tuition and fees deduction or education credit that you claimed for the prior year.
Box 7. Shows whether the amount in box 1 includes amounts for an academic period beginning January – March of the next tax year (which is the Winter term of the academic year). See Pub. 970 for how to report these amounts.
Box 8. Shows whether you are considered to be carrying at least half the normal fulltime workload for your course of study. You much be enrolled in at least six credit to receive a 1098T.
Box 9. If this box is checked, then the student is a graduate student at any time during 2020. This box should be blank.
Box 10. Shows the total amount of reimbursements or refunds of qualified tuition and related expenses made by an insurer.
Frequently Asked Questions (FAQ)
Q. Why doesn't my additional fees (flight, welding, culinary supplies, etc) count toward my qualified tuition and related expenses (QTRE)?
The Internal Revenue Service (IRS) only allows inclusion of fees that are attached to a class at the time of registration. If you have additional fees (such as extra welding materials or additional flight charges), these fees are not considered qualified tuition and related expenses (QTRE) as defined by the IRS and will not be reported.
Q. Why didn't I get a 1098T?
Lane Community College (LCC) is not required to furnish a 1098T for the following students:
- Students who take classes where no academic credit is offered even if the student is otherwise enrolled in a degree program;
- Students who are nonresidents for income tax purposes (unless requested by the student); and
- Students for whom LCC does not maintain separate financial account information and whose qualified tuition and related expenses are covered by a formal billing arrangement between the College and either the student's employer or a governmental entity, such as the Department of Veteran Affairs or the Department of Defense.
- Some of the most common reasons for not receiving a 1098-T are:
- LCC does not have your social security number. This information is required for 1098T reporting.
- LCC does not have your valid address.
Q. Why does Box 1 not equal to or sum to the charges paid for calendar year 2020?
Box 1 will NOT equal to or sum to the charges paid for calendar year 2020 because all charges are not considered qualified tuition and related expenses (QTRE) as defined by the Internal Revenue Service. Finance Charges, Health Services fees and Transportation fees are not qualified; therefore, the full amount of fees paid will not be reported.
Q. If I paid for 202030 (Winter Term 2020 Jan-Mar 2020) in calendar year 2019, why is it not reported on my 2020 1098T?
LCC is required to report transactions by calendar year (January 1, 2020 to December 31, 2020). Payments cannot exceed QTRE charges billed in calendar year 2020. If you paid for your Winter Term 2020charges before December 31, 2019; your QTRE was reported in box 2 on the 2019 1098T. If this was your only term in calendar year 2020, your payment in 2019 would not generate a 2020 1098T. Instead, you should have a 2019 1098T through your myLane account.