income tax credit
At the end of each calendar year, SMC is required to provide students with IRS Form 1098T. This form is used by the taxpayer in the computation of any eligible tax credit related to the Hope Scholarship and Lifetime Learning Credit. All forms are mailed to the student's address on file.
For the tax year 2007, amounts have been reported in Box 2 (Amounts billed for qualified tuition and related expenses) and Box 5 (Scholarships or grants) if applicable. Box 4 and Box 6 will reflect any adjustments for a prior year related to tuition and scholarships/grants. Amounts reported on the 1098T are based on the date the tuition and scholarship/grant were posted.
Please Note: SMC employees are not professional tax advisors and cannot give tax advice. Please contact a personal tax advisor for assistance. You may also contact the IRS directly at www.irs.gov or (800) 829-3676 / (800) 829-1040.
