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 MyMCC. All 1098-T forms will be available in MyMCC on or before January 31. If you would like to receive a paper copy, email the business office to request it be mailed. Send emails to banderson@mclennan.edu. We asked that you keep your address current on file.
1098-T forms are available through MyMCC.
To obtain your 1098-T form:
- Login to MyMCC
- Click on the "Students" button
- In the Students Menu under Financial Information, click Statement of Charges. This will take you to Student Planning.
- In the left hand column, click Financial Information, then click Tax Information. You will find all of your 1098-T statements there.
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 are 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.
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.