If you file a Federal United States Tax Return, you may be eligible to claim educational tax credits on your tax return.
As required by the Internal Revenue Service (IRS), Dallas Theological Seminary (DTS) will prepare a 1098-T tax form for you to use in preparing your tax return. The 1098-T form will be available to you either online at www.1098t.com or you will receive it by mail by the end of January. Your social security number (SSN) or tax identification number (TIN) must be on file with DTS as it is required by the IRS for verification and to ensure accuracy.
The 1098-T form is to be used as a guide. Please contact a tax preparer or your personal tax advisor to answer questions in regards to completing your federal income tax return.
Institutions of Higher Education may elect to report either the aggregate amount of payments received for qualified tuition and related expenses (box1) or the aggregate amount billed for qualified tuition and related expenses (box 2) for individuals enrolled who paid or were billed for qualified tuition and related expenses during the calendar year. DTS has elected to report in box 2. The 1098-T forms will cover charges, not payments for the calendar year.
However, the tax credits are allowable only for amounts paid during the calendar year and not amounts reported as billed, but not paid, during the year. When claiming a tax credit, the taxpayer’s financial records serve as the official supporting documentation for calculating the amount being claimed.
Get Your 1098-T Form Electronically
- Visit www.1098-t.com to find out how you can receive next year’s 1098-T form online. Through the use of our service provider, TCRS, students can consent to receive e-mail notification when the 1098-T form is available.
- Select the option to “Access My Record.” You will be prompted through a series of steps validating personal information.
- Once securely logged into your personal account, a link is provided to receive forms online. Please read the information thoroughly and provide a current and valid email address when prompted.
- Upon creation of the current year’s 1098-T form, you will receive an e-mail notifying you that the form is available on www.1098-t.com. You can print a copy for your records.
- If you signed up to get your form online last year, you do not need to enroll again. If our service provider, TCRS, is not able to deliver the email after two attempts, a paper statement will be mailed to you, and consent to receive the form in an electronic format will be withdrawn.
Call: TCRS at 1-877-467-3821 or the DTS Bursar at 214-887-5086
Visit www.1098-t.com today.