Hope Tax Credit Form (1098-T)
Students, who registered AND paid fees during the a calendar year, will receive a 1098-T Hope Tax Credit Form. These forms will be available via MyOCC (beginning in 2009) towards the end of January of the following year. The form indicates the amount paid during the calendar year (regardless of which term the payment was for). You will not receive a Hope Tax Credit Form (1098-T) if you did not supply the college with your social security number.
The information listed below is offered as a guide for students and not intended to provide professional tax advice. If you have questions or need further assistance you might wish to contact your tax advisor or the Internal Revenue Service (IRS)
What is a 1098-T?
The 1098-T form is for your use when preparing your taxes.
The 1098-T form will be mailed by January 31st each year for the previous calendar year.
Frequently asked Questions by Orange Coast College Students:
1. Is this form a bill?
No, it is not a bill nor a request for payment.
2. Is this form a source of income that I must include on my tax forms?
No, this form is a statement of the amount of enrollment fees, material fees, and health fees you paid to the college in the prior calendar year.
3. How is the amount determined?
It will include the amount paid for enrollment fees, material fees, and health fees.
It includes payments made during the prior calendar year, without regard to the semester the payment applies to. For example, if a payment was processed by the District in December 2007 for the Spring semester, which begins in January 2008, the payment would be included on the 1098-T for calendar year 2007.
4. Who do I contact if I think the information is incorrect?
It is important to remember that the amount on this form consists of payments processed by the District in the prior calendar year.
If you have questions regarding box # 1 on your form titled, "Payments received for qualified expenses", please call (714) 432-5072.
If you have questions regarding box #4 on your form titled, "Scholarships or grants" please contact the Scholarship Office at (714) 432-0202 X26445 or Financial Aid at (714) 432-5508.
5. Who do I contact if I did not get my 1098-T?
Please contact the Answer Center at 714-432-5072 for information on requesting a duplicate 1098T Form.
If you have additional questions or concerns please consult your tax advisor or contact the Internal Revenue Service Center.
For tax information, please contact your tax advisor or visit the IRS website.