1098 Tax Credit

1098 Tax Credit

By January 31st of each calendar year, RCC delivers an IRS 1098-T Form to all credit students enrolled during the prior tax year. The 1098-T provides information for tax benefits that may be available to those who are paying the student’s educational costs.

This IRS form is informational only. It serves to alert students that they may be eligible for federal income tax education credits. It should not be considered as tax opinion or advice. There is no IRS requirement that you must claim the tuition and fees deduction or education credit. Claiming education tax benefits is a voluntary decision for those who may qualify. It is up to each taxpayer to determine eligibility for the credits and how to calculate them. Please refer any questions on how to calculate education tax credits to your accountant and/or financial advisor.

How to obtain your 2020 IRS 1098-T Online

  • Log on to myRCC Portal.
  • From the My Apps section, select the Self Service icon.
  • Click on the Banner menu.
  • From the Student Menu, click Student Account.
  • Select Tax Notification (1098-T).
  • Select the Tax Year from the drop down menu.

What if my Self Service Account is not Active, can I access my 1098-T another way?

No, the only way to access your 1098-T is through the Self Service student portal.

How do I activate my Self Service Account?

  1. Go to myrcc.sunyrockland.edu
  2. Click on First Time User
  3. Enter your Username
  4. Click Next
  5. Enter Personal email address
  6. Click Next
  7. Enter your First name
  8. Click Next
  9. You will now be prompted to create your password
  10. Click Submit
  11. You will now be automatically re-directed to myRCC portal to log in with your new credentials
  12. Login with your new credentials
  13. You will be prompted to enter your new password again
  14. You will now be prompted to create four security questions
  15. Click Submit
  16. Click Back To myRCC
  17. You will now be in your myRCC portal
  18. Follow the directions above to access your 1098-T.

If you cannot login using the information provided above, please call/text 1-877-241-1823.  If you don’t remember your password, click on Forgot Password.

2020 1098-T Box Code Descriptions

RCC’s TAX ID: 13-3755303

  • Box 1, Amounts Billed for Qualified Tuition and Related Expenses (QTRE), reports total payments received for qualified tuition and related expenses.
  • Box 4, Adjustments Made for a Prior Year, is the amount of qualified tuition and related expenses billed to a student’s account for a prior tax year including any net decreases for a prior tax year.
  • Box 5, Scholarships and Grants, is the amount of non-loan financial aid transmitted to the student’s account for the current tax year including any net increases for a prior year.
  • Box 6, Adjustments to Scholarships and Grants for a Prior Year, is the net decrease to non-loan financial aid transmitted to a student’s account for a prior tax year.
  • Box 7, “Check Box” for Amounts for an Academic Period Beginning in January through March 31, this box is marked if amounts selected for Box 1 are for an academic period beginning during the first three months of the next tax year.
  • Box 8, “Check Box” if at Least a Half-Time Student (6 credits) in any enrollment period during the current tax year.

Requesting More Information

If you believe the reported calculation and/or any reported information is incorrect, please email [email protected] for more information. Make sure to include your student ID and specify what you feel is incorrect.

Additional Resources

Information on tax benefits, educational tax incentives, and your eligibility to claim such may be obtained from the Internal Revenue Service or a tax advisor. The IRS provides Publication 970, a guide to tax benefits, and the “Tax Benefits for Education: Information Center.”

The New York State Higher Education Services Corporation also provides information on state and federal educational tax credits and deductions.

Rockland Community College and its employees cannot provide tax information, assistance or advice.