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IRS Form 1098-T

2020 Calendar Year

The 1098-T form is an informational document that all educational institutions are required to prepare. It contains information on reportable transactions that have been made within a calendar year. Mountwest prepares 1098-T statements annually for all eligible students. Students are not required to use the 1098-T form, but can use the information provided when completing their tax returns. While Mountwest cannot advise on how you should use the form, your tax professional can assist with determining eligibility for education tax credits (American Opportunity Tax Credit or Lifetime Learning Credit). 

1098-T forms for the 2020 calendar year are now available electronically. 

How to Access Your 1098-T 

Students can access their 1098-T electronically through their myMCTC portal, using the following steps: 

• Click on “Student & Financial Aid Information” 

• Click on “Student Records” 

• Click on “Tax Notification” 

• From here, you may print the form directly and save a copy for future year reference. 

You will have access to your 1098-T electronically until one year after you have graduated. Mountwest maintains 1098-T information for four years, per IRS recommendations. To access your 1098-T from prior years, you may follow the same steps to the Tax Notification Screen; scroll to the bottom of the page to click on “Select Another Tax Year”, enter the applicable tax year and click on “Submit”. Please note, Mountwest can only answer questions related to how the form was prepared. The taxpayer should refer to relevant IRS forms and publications, and not the institution, for explanations relating to the eligibility requirements for, and calculation of, any allowable education tax credit. 

Additional Online Resources 

IRS Publications– go to irs.gov 

• Publication 970 – Contains information on both American Opportunity Tax Credit and Lifetime Learning Credit. Covers eligibility, qualifying expenses, how to figure and claim credit, etc. 

• IRS Form – go to irs.gov 

• Form 8863 – This is the form used to calculate the tax credit and must accompany the tax return. 

Phone Numbers 

IRS – Asking Tax Questions: 1.800.829.1040, TTY/TDD 1.800.829.4059 

IRS – Ordering Forms and Publications: 1.800.829.3676, TTY/TDD 1.800.829.4059 

IRS – Taxpayer Advocate: 1.877.777.4778, TTY/TDD 1.800.829.4059

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