Palm Beach State College will furnish a statement to each eligible individual.

Who is not eligible?

• Nonresident aliens will not receive a 1098-T.

• Qualified expenses waived or paid entirely by scholarship or grant.

• Qualified expenses covered by formal billing arrangement.

What types of expenses are eligible and not eligible for 1098-T reporting purposes?

Eligible Qualified Tuition and Related Expenses (QT&RE)	Not Eligible non-Qualified Tuition and Related Expenses
Registration Fees	Housing and dining costs
Special Course Fees attached to classes	Course related Books, Supplies and Equipment
Student Activity Fees attached to classes	Fines
Tuition	Application fees
	Transcript fees
	Testing fees
	Non credit course fees (not part of a degree or certificate)

The method of reporting the fees a student has paid will be the Total Payments Received Method

• Amount of payments received from any source for qualified expenses

• Less any reimbursements or refunds made during the calendar year that relate to payments received during the same calendar year

• Except scholarships that must be applied to expenses other than QT&RE

• Includes any positive account balance that is applied toward current charges

Adjustments for Prior Years

• Reimbursements or refund of QT&RE expenses made during the calendar year that relate to payments received that were reported for a prior year.

Scholarships and Grants

• Total amount ADMINISTERED and PROCESSED during the calendar year for the payment of the student’s cost of attendance.

Adjustments to Scholarships

• Adjustments to Scholarships and Grants for a prior year

• Any reduction to the amount of scholarships or grants that were reported for a prior year.

Other sources of information

• Contact a Tax Professional as to how the information reported on the 1098-T should be reported on the tax payers tax return

• Contact www.irs.gov for guidance or 1-800-829-1040

Mailing of Forms

• Please update your current address by going to PantherWeb.

• 1098-T forms will be mailed to the most current mailing address the College has on file in the student system.

• The form shall be mailed to eligible students by January 31^st, 2012.

• If the student did not receive a copy of the form in the mail or would like an additional copy they can get an electronic version of the form by going to PantherWeb

• The information contained in the 1098-T will help you to determine if you may claim the Hope or the Lifetime Learning education tax credits using IRS Forms (you may want to see form 8863 instructions).

Electronic Forms

• The College now allows you to receive an official IRS form electronically in order to reduce the risk of documents lost in the mail and to allow for speedier delivery of the form.
  

• If you would like your official IRS form 1098-T to be delivered via PantherWeb, please login at PantherWeb. Click on the My Financials menu and select 1098T DELIVERY METHOD.

This information will be printed in each 1098-T form. This will hopefully help explain some of the information reported on the 1098-T form and where to find additional information if necessary.

Palm Beach State College is required to file IRS Form 1098-T for each student that the College has received Qualified Tuition and Related Expenses on your behalf. IF YOU ARE CLAIMED AS A DEPENDENT ON ANOTHER PERSON'S TAX RETURN (i.e. YOUR PARENT’S RETURN), THAT PERSON MAY BE ELIGIBLE TO CLAIM THE TAX CREDITS. GIVE THIS NOTICE TO THAT PERSON.

The College reports the payments received as the Qualified Tuition and Related Expenses. QUALIFIED TUITION AND RELATED EXPENSES that are reported on this form are payments received by the College for tuition and certain fees only. These payments do not include books, room and board, supplies, equipment or other non-academic activities or personal living expenses. As a result, the amount shown above may be less than the total amount you paid to the College.

Amounts listed in Form 1098-T reflect current records of the College. It is the responsibility of the tax filers to report accurate information on their tax returns. The College cannot provide you with advice regarding your eligibility for tax credits, tax return reporting requirements, or your tax liability. You should consult a competent tax professional or the IRS concerning current tax laws and regulations and their potential effect on your tax return.

You may want to access the College website at PantherWeb to get additional information concerning fees paid and number of credit hours earned. Select the REGISTRATION link, and then once you have logged on, select My Schedule. Enter the academic terms you wish to view to get the amount of fees you have paid. Additional questions can be directed to the Cashier's Office at (561) 868-3250.

Please refer Accounts Receivable FAQs for 1098-T Frequently Asked Questions.

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