Important 1098-T Tax Information
2016 1098-T tax information will be available to eligible students on or before January 31, 2017 per IRS Regulations. Students will be able to view and print the 2016 1098-T form on Ozone by clicking on the Financial Info tab, and in the Account Information section click on Print Tax Notification/1098-T.
Paper forms will not be mailed. Please refer to the 1098-T disclosure information below.
What is Form 1098-T?
Owens Community College is required to produce the 1098-T by IRS regulations. It can be used to claim the educational tax benefits outlined in IRS Publication 970. The information on the form will assist you in completing your tax return. If you need further assistance, please consult a tax advisor.
Who gets a 1098-T?
You will receive a 1098-T only if you had out-of-pocket payments, whether paid by you or with a loan, for "qualified educational expenses." IRS Publication 970 defines "qualified educational expenses" as tuition, fees, and books.
You will not receive a 1098-T on the portion of tuition paid with tax-free educational assistance. Per IRS guidelines: If you pay qualified education expenses with certain tax-free funds, you cannot claim a credit for those amounts. You must reduce the qualified education expenses by the amount of any tax-free educational assistance and refund(s) you received. A 1098-T is, therefore, not issued for the portion of tuition paid with tax-free educational assistance including:
- Pell grants,
- Employer-provided educational assistance,
- Veterans' educational assistance, and/or
- Any other nontaxable (tax-free) payments (other than gifts or inheritances) received as educational assistance (including CAP and FSEOG grants).
How do I access my 1098-T?
Students can access their 1098-T 24 hours a day, 7 days a week through their Ozone account.
Once you log into your Ozone, Click on the Financial Info Tab. In the Account Information box, click the link to "Print Tax Notification/1098-T." You just need to enter the tax year, and if you were eligible to receive a 1098-T, once you hit submit, you will access the form that you can print for your records.
Disclosure Statement to Owens Community College Students for 1098-T Access
Owens Community College (OCC) students can view and print their IRS 1098-T, Tuition Statement (statement) online. When you consent to viewing and printing your statement online, you will not have to wait for it to arrive in the US mail to complete your tax return. You give your consent electronically, such as when you register online via your Ozone account. If you do not give your electronic consent, OCC will furnish one paper copy of your statement by US Mail to your address in our records.
Your electronic consent applies without end, until you withdraw it as noted below. If, after you give your electronic consent, you wish to obtain a paper copy of your statement, you can do so by sending a written request (including your full name and OCID number) for the paper copy to Owens Community College Attn: Office of Student Accounts P.O. Box 10,000 Toledo, Ohio, 43699. Such a request will not be treated as a withdrawal of your electronic consent.
You will need to access to your Ozone account via www.owens.edu through an internet connection to view your statement.
OCC will continue making statements available online to our students. Your statement will be available online through at least October of the year following the applicable tax year. Online access may be temporarily interrupted by events outside OCC's control.
Keep Your Contact Information Updated
You should update your contact information (address, phone, etc.) whenever you change it, including after you no longer attend OCC. Doing so will help OCC deliver your statements successfully.
Withdrawal of Consent
After you have given your electronic consent, you may withdraw it by sending a written notice including your full name and OCID number to Owens Community College Attn: Office of Student Accounts P.O. Box 10,000 Toledo, Ohio 43699. Owens Community College will confirm your withdrawal and its effective date, in writing, to the mailing address on file with the Records office. No withdrawal of consent will be applied retroactively.
Please note that our registration process for each semester now includes a consent statement to receive Form 1098-T online. Any such consent received by OCC will render void any previously received request to withdraw a previous consent.