Federal 1098-T and South Carolina Tax Credit Information
Why did I receive a 1098-T?
Educational institutions are required by law to report payments received for Qualified Education Expenses within the calendar year.
Beginning in 2018, the IRS regulations changed to require that all schools report payments received instead of eligible charges billed.
Prior to 2018, College of Charleston reported the amount of qualified tuition and related expenses that had been billed to a student within a calendar year, and not payments received.
What is a Qualified Education Expense?
Examples of Qualified Education Expenses include tuition charges, Library Fees, Technology Fees, and any Lab Fees.
Charges for Room and Board are NOT considered a Qualified Education Expense by the IRS, even if paid directly to College of Charleston.
For what the IRS considers a Qualified Education Expense, please see the following link https://www.irs.gov/credits-deductions/individuals/qualified-ed-expenses
What information is on the 1098-T?
Box 1 reflects the payments received for Qualified Education Expenses. This would include scholarships, grants, payments and loans, less any refunds, received during the tax year for qualified expenses billed in the same tax year.
Box 2 is intentionally left blank.
Box 3 is intentionally left blank.
Box 4 will reflect any adjustments made to payments in the prior year.
Box 5 will reflect the total scholarships and grants posted to the student account in the calendar year 2023.
Box 6 will reflect any adjustments made to scholarships or grants for the prior year. This reflects any reduction in scholarships and grants made on a prior year’s 1098-T.
How do I use the 1098-T for tax purposes?
The 1098-T form should not be considered as tax opinion or advice. Please refer to relevant IRS forms and publications or consult a tax advisor.
**Employees of the College of Charleston cannot provide tax advice.
How do I know if I should have received a 1098-T?
Prior to 2018, 1098-Ts were only sent to students that have more eligible tuition charges than scholarships/grants (free money). In other words, if scholarships/grants exceeds qualified tuition charges than a 1098-T is NOT issued.
If you believe that you should have received a 1098T but have not received a mailed copy, additional copies are available at ECSI's website (https://heartland.ecsi.net/index.main.html#/access/signIn) or by calling them at 866.428.1098. Our school code is Q7
When Will I receive my 1098-T?
The 1098T form is processed and mailed by an outside agency, ECSI. The forms are mailed to the student between January 15 and January 31. If you have questions about the qualified charges on your 1098T, you may call 866.428.1098.
How can I obtain a copy of my 1098-T?
Your 1098T is available by accessing the form at ECSI's web site https://heartland.ecsi.net/index.main.html#/access/lookup or by calling ECSI at 866.428.1098. Our school code is Q7.
Type "College of Charleston" and click "Submit". You will be asked for sign into ECSI or register to create a profile. Once a profile has been created, you will then be asked to connect an ECSI account number to your profile. To connect an ECSI account number to your profile, please call ECSI directly at 866.428.1098.
Electronic Opting In
College of Charleston, in conjunction with ECSI, is offering you the opportunity to receive your 1098T Tuition Statement Tax Form electronically this year. If you would like to receive your 1098T form electronically, please give your consent by following the link provided below and following the step by step instructions.
If you choose to receive a paper copy of your 1098-T form, simply do nothing.
The benefits to receiving electronic notification are:
• Online delivery provides access to the form 1098-T earlier than the traditional mailing process.
• Online delivery eliminates the chance that the 1098-T will get lost, misdirected or delayed during delivery, or misplaced once the student receives it.
• Signing up for online delivery is easy and secure.
• Students can receive their 1098-T form even while traveling or on assignment away from their home address.
To give consent to receive your 1098-T form electronically, click on the link below and follow the simple instructions to sign up!
Step 1: Website: https://heartland.ecsi.net/index.main.html#/access/signIn
Step 2: Register with ECSI and link with College of Charleston using your SSN. Once you have registered, click "Update Delivery Method".
Step 3: Read information, check box and click submit.
If you have any questions, please visit http://www.ecsi.net/taxinfo.html for information regarding your tax documents and to obtain contact information for ECSI.
It is the policy of the College not to fax 1098-Ts as they have personal information regarding our students. Please make use of the two web sites for additional copies of the tax form.
I am an International Student. Why did I receive a from 1098-T, and what do I do with it?
College of Charleston is required by the United States Internal Revenue Service (IRS) to report payments received for qualified tuition and related expenses for the tax year ending on December 31 of the preceding calendar year. The Form 1098-T is the tax document used to report these payments. Students who file income taxes in the United States can use the Form 1098-T as an informational tax document used to determine eligibility for income tax credits.
College of Charleston cannot determine which international students are residents for tax purposes and cannot provide personal tax advice to students. It is each student’s responsibility to determine if they should file taxes and/or if they are eligible for a tax credit. For more information, please refer to the Internal Revenue Service’s website at: https://www.irs.gov/individuals/international-taxpayers/determining-alien-tax-status or consult your personal tax adviser.
Where can I obtain additional information about this form?
The IRS web site (www.irs.gov) provides information about this form. Publication 970, Tax Benefits for Education can be obtained on that web site or by calling the IRS at 1.800.829.1040.
South Carolina Tax Credit Information
To help ease the financial burden for South Carolina college students and their families, the South Carolina General Assembly has recently increased its income tax credit for eligible students for tuition paid to South Carolina colleges and universities. To claim up to $1,500 in tuition tax credits, a Form SC 1040 must be filed. When preparing the South Carolina income tax return, Form I-319 Tuition Tax Credit must be completed. This form is included with all state individual income tax booklets. To determine if you are eligible, and for more information about the tax credit, please visit the South Carolina Department of Revenue Tuition Tax Credit website.