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1098T Form FAQs

What is a 1098T?

The 1098-T form contains information to assist a student in filing the education tax benefits/tax credit deductions, such as the American Opportunity Credit (a modification of the Hope Credit) and Lifetime Learning Tax Credits. For more information on these tax credits please visit the IRS web site http://www.irs.gov/publications/p970/ar01.html.

When will my 1098T form be available?

1098T forms will be mailed no later than January 31st to students' "Permanent" address on file at CNM.  It is the student's responsibility to ensure that the address on record is current and accurate.  You may also access your 1098T forms through MyCNM, no later than January 31st.

What is an electronic consent?

Federal regulation allows those eligible to receive IRS Form 1098T the option to receive the form in an electronic format instead of through the mail. In order to exercise this option, eligible recipients must provide consent to receive the form in an electronic format.  Students that do not consent to receiving their 1098T form electronically will receive a paper copy of the 1098T by mail.  The 1098T will be mailed no later than January 31st to the permanent address on file. 

How do I consent to receive my 1098T electronically?

  1. Log-in to myCNM
  2. Click on the “Cashier” Tab
  3. Click on “Pay Here-View Account Details” in the Make a Payment box
  4. Click on “Student Account Center” button
  5. You will be redirected into the CNM Student Account Center in a new browser window
  6. The 1098T option box will open and you can choose whether or not to receive your 1098T electronically
  7. Instruction Guide for Consenting to Electronic 1098T

How can I change my delivery options for receiving my 1098T?

  1. Log-in to myCNM
  2. Click on the “Cashier” Tab
  3. Click on “Pay Here-View Account Details” in the Make a Payment box
  4. Click on “Student Account Center” button
  5. You will be redirected into the CNM Student Account Center in a new browser window
  6. Click “My Account” and choose “Consents and Agreements” from the dropdown menu
  7. Select “Change”
  8. The 1098T option box will open and you can choose whether or not to receive your 1098T electronically
  9. Instruction Guide for Changing Consents and Agreements for 1098T

Why did I receive a 1098T form?

CNM is required to file a form 1098T with the Internal Revenue Service for students who were billed qualified tuition and related fees during the last calendar year.

What do I do with my 1098T form?

Your 1098T form is used to determine your eligibility to claim the Hope or Lifetime Learning education tax credits.  You should take this form with you when visiting your tax preparer or call the IRS and ask for instructions on how to enter your amounts on your tax forms. CNM staff members cannot give out tax advice; please contact your tax advisor or the IRS.

How can I get a copy of my 1098T form?

You can obtain a copy of your 1098T form for any tax year by logging into your MyCNM account. Click on Cashier tab, then click on "Tax Notifications."  Since CNM has already sent IRS a copy of your 1098T form, this copy is for your records only.  If you cannot access your 1098T form through your MyCNM account, please email your request to 1098T@cnm.edu and you will receive a response within 72 hours.  If you do not have access to a computer, please call the 1098T line at (505) 224-3497, select option 2 and leave a voicemail with your name, I.D. number and year you are requesting the form for and CNM will re-mail it to you.

How do I obtain my 1098T form electronically?

Instruction Guide to Obtain your 1098T Electronically

To select to receive your IRS Form 1098T in an electronic format, please perform the following:

  1. Log-in to myCNM
  2. Click on the “Cashier” Tab
  3. Click on “Tax Notification” in the center top box
  4. Enter Tax Year and Submit
  5. Printing form, print to pdf and email the document or save for future use
  • Print to PDF using chrome:
  1. Right-click your mouse
  2. Select “Print”
  3. Click on “Change” under destination
  4. Select “Save as PDF”
  5. Click “Save”

 

  • Print to PDF using internet explorer:
  1. Right-click your mouse
  2. Select “Convert to Adobe PDF”
  3. Click “Save”
  4. Exit

What charges are considered "qualified" expenses in Box 2 of my 1098T form?

Qualified expenses in Box 2 include:

  • Tuition*
  • Technology Fees*
  • Registration Fees*
  • Course/Program Fees (UNIF)
  • Challenge Exam Fees
  • CLEP Fees

*If you receive a CNM Waiver, your tuition and fees are reduced by the amount of the waiver

Box 2 will not include:

  • Spring term charges for classes that you registered for in November or December of the previous year
  • Bookstore charges
  • Health fees
  • Parking fees
  • Payment Plan fees
  • Transcript fees
  • GED Fees
  • ID Fees
  • ABE Registration fees

What is included in Box 5 "Scholarship or grants"?

Included in Box 5:

  • Federal Financial Aid (Grants only) Ex:  PELL, SEOG
  • State Financial Aid (Grants & Scholarships) Ex:  SSIG, CHLD, LGSH, LTRY, etc…
  • All Scholarships including CNM and external agencies.
  • All Third Party Payments

Not included in Box 5:

  • Loans (Direct Subsidized/Unsubsidized & Perkins)
  • Americorp Awards

Why aren't my Spring Term Charges included in my 1098T form?

CNM reports charges in the year they were incurred, not the year in which they were paid.  This means, if you registered for your Spring term classes in November or December of the year prior to when those classes began, then the qualified expenses for those classes were already reported on your previous year 1098T form.

Why didn't I receive a 1098T form?

You might not have received a 1098T form for the following reasons:

  • You did not register for classes during the last calendar year
  • You registered for Spring term classes in November or December and those charges were already reported on a previous 1098T form
  • You moved and did not change your address at CNM before the 1098T forms were processed

Who can I contact if I have more questions?

If you have questions that are not answered on this website, please email 1098T@cnm.edu and someone will respond to your question within 72 hours. If you do not have access to a computer, please call the 1098T Line at (505) 224-3497 and select an option for help.