2019 1098T forms are now available online at http://www.tsc1098t.com.
The 1098T form is available to all New York Medical College students who paid qualifying tuition and fees during the prior calendar year to comply with the American Opportunity Credit, formerly the Hope Credit and Lifetime Learning Credit. Students must have a valid social security number or Tax ID number and valid mailing address on record with the College.
The 2019 1098T tax forms have been mailed out for those who did not consent to receive the form electronically. Please go paperless and receive your form earlier than traditional mail by enrolling easily at www.tsc1098t.com and follow the instructions below:
-Enter the Site ID: New York Medical College - 11540
-User Name: Enter full T ID# include the T
-Password: Last 4 digits of your SSN
-You will be prompted to change your password. Enter your old password (last 4 digits of your SSN) and then enter a new password. The new password must be 7 characters and contain at least one numeric character.
Students with questions or log-in issues should email email@example.com or call 1-844-868-7666 for Helpdesk assistance.
2019 1098T FAQs for NYMC Students
Download the 1098T FAQ information
1. What is a 1098-T Form?
The 1098-T Tax Form is a statement of qualified tuition and fees payments made during the calendar year of 2019 (January 1, 2019 through December 31, 2019) as required by the Internal Revenue Service. The 1098-T is for your information and is not intended to determine your eligible tax credit. To determine your eligibility contact your tax advisor or visit the IRS website at www.irs.gov.
2. What are qualified expenses?
TUITION and FEES charged from January 1, 2019 through December 31, 2019 (if required for enrollment or attendance at the institution)
See example below from the IRS website:
Example: When Marci enrolled at College X for her freshman year, She had to pay a separate student activity fee in addition to her tuition. This activity fee is required of all students, and is used solely to fund on-campus organizations and activities run by the students, such as the student newspaper and the student government. No portion of the fee covers personal expenses. Although labeled as a student activity fee, the fee is required for Marci's enrollment and attendance at College X. Therefore, it is a qualified expense.
3. What are NON-qualified expenses?
Room and Board, Health Insurance, Medical Expenses, Travel, Clerical, Equipment, Books and other expenses that ARE NOT required for enrollment in or attendance at an eligible educational institution such as Late Fees, Late Registration Fees, and Payment Plan Fees.
4. When can I expect to receive my 1098T form?
The forms will be post marked and mailed out by January 31, 2020.
5. I did not receive my 1098-T. How do I get a copy?
Go to www.tsc1098t.com to either print your 1098-T or have a copy emailed to you. Enter the 5 Site ID for your campus: Touro NY : 11430,TUC and TUW: 11539, NYMC: 11540, TUN: 11541, HTC: 11543, your T student ID for your username and the last 4 digits of your SSN for your password.
6. How do I reset my password for www.tsc1098t.com?
Click on the forgot password tab. If you need additional assistance call 1-888-220-2540.
7. Information on my 1098-T is incorrect. How do I have it corrected?
Contact the Office of the Bursar to have your information updated at firstname.lastname@example.org
8. What do the boxes mean on my 1098-T?
Box 1 - Payments made for qualified tuition and related expenses for the calendar year of 2019, January 1, 2019 through December 31, 2019.
Box 2 - No longer used.
Box 3 - if checked, this indicates that the reporting method (Amounts Billed or Payments Received) has changed from the prior year.
Box 4 - indicates any reductions made to the prior year.
Box 5 - indicates the amount of scholarships and grants received for the calendar year of 2019 January 1, 2019 through December 31, 2019.
Box 6 - indicates any reductions to scholarships or grants received in the prior year.
Box 7 - if checked, this indicates amounts in either Box 1 or Box 2 applies to January 2020 thru March 2020.
Box 8 - if checked, this indicates the student is half-time for the calendar year of 2019. Box 9 - if checked, this indicates the student is a graduate student for the calendar year of 2019.
9. Since I received a 1098-T does that mean I qualify for a tax credit?
The university is required to send all students a 1098-T, but that does not mean you are necessarily eligible. To determine your eligibility contact your tax advisor or visit the IRS website at www.irs.gov.
10. How can I obtain a list of all my payments made last year?
While it is up to the taxpayer to maintain their own record of payments, students may login to the TouroOne portal: https://touroone.touro.edu and review their payment history on TouchNet:
Step 1: Login to the TouroOne portal (follow the Account Management steps if necessary.)
Step 2: Select the “Financial Services” tab on the left side of the page.
Step 3: Select “TouchNet” in the Student Accounts box.
Step 4: Select “My Account”, then “Payment History”.
Step 5: Search by date range 1/1/19-12/31/19.
11. What is the Tax Identification Number for my school?
his number can be found on the 1098-T form in the middle left section.
Touro College- 13-2676570
Touro University California which includes Touro University Worldwide- 13-3838740
Touro University Nevada- 20-0363127
New York Medical College which includes Touro College Los Angeles- 13-1099420
Hebrew Theological College- 36-2167095