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.tsc1098t.com or you will receive it by mail at 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.
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. For 2017, DTS reports in Box 2. The 1098-T forms will cover charges, not payments for the calendar year.
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.
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.
Note: Effective with tax year 2018, IRS Regulations require DTS to report Paid Tuition and related expenses in Box 1. Box 2 reporting will no longer be allowed by the IRS.
Receive Your 1098-T Form Electronically
DTS is offering you the opportunity to retrieve your 1098-T Form online. Starting with tax year 2017, we have contracted with TAB Service Company to provide this service. DTS highly encourages you to take advantage of obtaining your form electronically.
IRS Regulations state that each student who wishes to receive their 1098-T form electronically must also provide his/her consent electronically. Therefore, if you wish to take advantage of this you must visit www.tsc1098t.com.
The instructions are as follows:
Go to www.tsc1098t.com
Enter the Site ID: 11423
User Name: DTS Student ID #
Password: Last 4 digits of your SSN
For security reasons, you will then be prompted to change your password. Enter your old password (last four digits of your SSN) and then enter a new password. The new password must be eight characters and contain at least one numeric character.
Once you have entered your new password, you will be presented with the online consent form. Read the Online Consent Form for the requirements and specifications. If you agree, click on “Consent”. Once you consent, you will NOT be mailed a 1098-T and must return to the site to view/print a copy of your 1098-T form.Your consent will apply for all future years unless you revoke your consent.