Tax Information

Thompson Hall

Tax Information

A Notice to UNH, UNHM, and Continuing Education Students Regarding 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 Lifetime Learning Credit or the American Opportunity Tax 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 for the appropriate tax (calendar) year for qualified educational charges will be eligible for tax credits on your current year tax forms. For example: only payments made in calendar year 2010 may be used when filing 2010 taxes.

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 expenses 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 1098-T forms are mailed to students' permanent mailing addresses. These forms show enrollment status, eligible charges billed, and scholarships or grants processed in the applicable tax year. A copy of this information is also sent to the Internal Revenue Service. Please be sure that your permanent mailing address is up-to-date so that you can receive your 1098-T form.

Students can now obtain their 1098-T form online. UNH has contracted with Vangent, Inc. to provide both the electronic and paper 1098-Ts. You may retrieve your 1098-T electronically by visiting Vangent at https://tra.vangent.com.

Financial Detail Page - The reverse side of the 1098-T form will show financial details 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 the tax year. These financial details are for your use and will NOT be sent to the Internal Revenue Service.

Additional Notes

You may obtain further information about these tax credits and student loan interest deductions by calling the IRS at (800) 829-1040 or by following the IRS web site links located on the upper left of this page.

 


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