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1098-T for 2018 Calendar Year

The 1098-T form will supply you with information to help determine whether you are eligible for tax credits. Receiving the 1098-T form does not guarantee tax credit eligibility. The IRS Publication 970  provides detailed information about the American Opportunity Credit (formerly Hope Scholarship) and Lifetime Learning Credit.

1098-T forms for calendar year 2018 are available by January 31, 2019. Instructions on how to access your 1098-T are sent to your NECC email account. You can also view instructions below.

How to Access Your 1098-T

Instructions for Accessing Your 1098-T Electronically

Instructions for Accessing Your 1098-T Electronically

The 2018 tax season starts in January and you will need your 1098-T!  You have the option of having the 1098-T delivered electronically to you OR we will mail it to you.  We have made the process extremely easy this year and you can complete it in five easy steps!

Step 1 – Log in to the myNECC Portal
Step 2 – Click on the Tax Information Button
Step 3 – Review your contact information
Step 4 – Select US Mail or Screen Print and click submit
Step 5 – Log out if you are using an on campus computer (do not just close the browser)

If you change your mind and you want your 1098-T delivered a different way all you have to do is log back in to the myNECC Portal and choose the other option.  Please be aware that staff in Student Financial Services are not tax preparers and cannot answer tax specific questions.  If you have questions about how or why you should file a tax return please contact the IRS at 1-800-829-1040 or your tax preparer.  If you need help completing your taxes for 2018, the IRS offers free assistance through VITA (Volunteer Income Tax Assistance).  Offices in the area will be open after the new year.  For more information and to find a location near you please go to, https://www.irs.gov/individuals/free-tax-return-preparation-for-you-by-volunteers.

If you have any questions about this process please contact the Student Financial Services/Student Accounts Office at 978-556-3900.

Who Will Receive a 1098-T Form?

All eligible students enrolled at NECC in 2018 in at least one course will receive a 1098-T form. Not all students who received a 1098-T are eligible to claim a deduction or credit. Please visit the IRS website or consult your tax professional for information about calculating tax credit.

The information below should be used to assist you in understanding what information will be reported on the 1098-T form.

What Will Be Reported on Your 1098-T?

Educational Institutes have the option of reporting either payments received (Box 1), or amounts billed (Box 2), for qualified tuition and related expenses. Northern Essex Community College has chosen to report amounts billed for qualified tuition and related expenses. For this reason you will not find any information in Box 1 of your 1098-T.

Box 1

This box will show payments received for eligible charges.

Box 2

This box is blank.

Box 3

This box is only used if Northern Essex Community College changed our reporting method from the prior year. NECC has not changed its reporting method.

Box 4

This box will show an adjusted amount if you dropped classes or your schedule was adjusted in the current reporting year, resulting in a reduction in qualified tuition and related expenses affecting amounts reported in a previous reporting year.

Box 5

This box contains the total amount of any scholarships, grants, third party payments, or waivers that were paid toward your costs of attendance. This may also reflect scholarships or grants from a previous year that were received late.

Box 6

If there were any grant and/or scholarship reductions on your account in this reporting year, affecting amounts reported in a prior year, those adjustments will show in this box.

Box 7

If any amounts billed for qualified tuition and related expenses reported in box 2 relate to the academic period that begins in January through March of the following reporting year, this box will be checked.

Box 8

If you were at least a half-time student (6 credits) during any academic period that began in this reporting year, this box will be checked.

Box 9 and 10

These boxes do not apply to Northern Essex Community College or NECC current/former students.

Important Note

Please be advised that the College is prohibited from providing legal, tax, or accounting advice to students and we are not responsible for any use you make of this information.

 

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