Student Tax Information

 

Form 1098-T is a Tuition Statement to help you determine your eligibility for an education credit or tuition deduction. McLennan Community College is required to file this tax form with the Internal Revenue Service for students who made a payment for qualified tuition and related expenses during the calendar year.

Students who elect to receive an electronic Form 1098-T may access it by logging into WebAdvisor. All 1098-T form will be available in WebAdvisor on or before January 31. Otherwise, a paper copy will be sent via the U.S. Postal Services no later than January 31st to the mailing address. We asked that you keep your address current on file.

Education Tax Benefits

American Opportunity Credit
You may be able to take a credit of up to $2,500 for qualified education expenses paid for each student who qualifies for the American Opportunity Credit. This credit equals 100% of the first $2,000, and 25% of the next $2,000 of qualified expenses paid for each eligible student. The full amount of the credit is subject to certain income limitations.

Lifetime Learning Credit
The Lifetime Learning Credit may be available to taxpayers who pay higher education costs but are not eligible to claim the American Opportunity Credit. The credit is equal to 20% of the first $10,000 of tuition and required fees paid each year (for all students in the family) with a maximum credit of $2,000.

1098-T forms are available through WebAdvisor.

To obtain your 1098-T form:

  • Login to WebAdvisor
  • Click on the "Students" button
  • In the Students Menu under Financial Information, click 1098 Electronic Consent.
    • Consent must be granted here for you to view and print your 1098-T Form. Click SUBMIT.
  • You will be returned to the Student Menu. Once you have granted electronic consent, navigate back to the Financial Information section and click "View my 1098-T Forms." A PDF document will be generated - from here you can either save the document or print it from your internet browser window.

Note: The student's Taxpayer Identification Number (TIN) is required in order to properly report educational expenses on the Internal Revenue Service (IRS) Form 1098-T. The TIN may be updated in the Enrollment Center. Your social security card and a valid picture ID is required for updating. The TIN may also be updated by downloading and completing the IRS form W-9S and returning it to Student Accounts Receivable by fax, mail, or in person.

If you have any questions about viewing or printing your own 1098-T Form, please contact Student Account Receivables at 254-299-8627.

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