Tax Information

A Notice to UNH, UNHM and Continuing Education Students Regarding Tuition Tax Credits

Due to the passage of the Taxpayer Relief Act of 1997, many taxpayers are now able to claim tax credits for higher education costs through the Hope Scholarship Credit or the Lifetime Learning Credit.

Eligibility for these tax credits is affected by family adjusted gross income, amounts of qualified educational charges paid, and enrollment status.

Only payments made during Calendar Year 2007 for qualified educational charges will be eligible for tax credits on your 2007 tax forms.

Qualified educational charges include tuition, course fees, enrollment fees and technology fees. We understand that room, board, a portion of mandatory fees and health insurance are not qualifying charges for these tax credits.The University does not provide personal tax advice. We suggest you contact a qualified tax advisor if you need additional information.

What you will receive

1098-T Form – In late January you will receive a 1098-T Form showing your enrollment status, eligible charges billed, and scholarships or grants processed in the applicable tax year. A copy of this information will be sent to the Internal Revenue Service.

Financial Detail Page – The reverse side of the 1098-T form will show financial detail from your student account for the applicable tax year. It will show qualified educational charges, as well as a summary of payments, grants, scholarships, loans and refunds applied to your account during that tax year. This financial detail is for your use and will NOT be sent to the Internal Revenue Service.

Additional Notes

* Mandatory fees for Durham full-time undergraduates are shown lower than the amount actually charged because IRS regulations do not allow the Health Services fee or student health insurance as a qualified charge.

* November charges listed on your Financial Detail Page will show the first day of spring semester as the effective date.

* Link to an IRS article on late tax changes: Special Steps Needed for Paper 1040 Filers to Claim Late Tax Changes

Education credits are computed on Form 8863. To complete this form, you will need to know the amount of qualifying education expenses paid during the calendar year which corresponds to the year on your tax form. This can be determined by analyzing the Payments section of the Financial Detail Page located on the reverse side of Form 1098-T. This section includes all payments made on your behalf in that calendar year, regardless of when the charges were billed.

Eligible payments could include those made for qualifying charges billed in the applicable tax year. Since charges and scholarships processed during the applicable tax year are not reported on your current Form 1098-T, you may view these amounts through MyUNH or the UNH Parent Portal.

For more information - You may obtain information about these tax credits and student loan interest deductions by calling the IRS at (800)829-1040 or by clicking on the IRS website links on the upper right of this page.