1098-T Tuition Statement

The Form 1098-T is a statement that colleges and universities are required to issue under Internal Revenue Code Section 6050S to students who have reportable transactions within a calendar year. Students use the information contained in the 1098-T Tuition Statements to determine eligibility for certain Education Credits (i.e., American Opportunity and Lifetime Learning) when preparing their annual tax return. Please note that when claiming tax credits or deductions, the taxpayer’s (i.e., student’s) financial records serve as the official supporting documentation for calculating the amounts being claimed. The 1098-T is for informational purposes only. There may be additional documentation required in filing your annual tax return. Students are encouraged to consult a qualified tax advisor for specific questions. Form 1098-T statements will be available to students electronically through the CampusNexus® Student Portal, or mailed, no later than January 31 each calendar year. In addition, a 1098-T FAQ form is published on the BSMCON website annually. For questions regarding Form 1098-T statements, please contact the Senior Accountant or CFO.