IMPORTANT TAX INFORMATION FOR STUDENTS

The Taxpayer Relief Act of 1997 allows a tax credit to be claimed for
out-of-pocket payments made to eligible higher education institutions during the tax year for tuition and certain fees. The Internal Revenue Service (IRS) requires that we provide a 1098-T statement to you for your use in completing IRS Form 8863.

The IRS changed the reporting requirements for Form 1098-T in 2003. Due to this change all Tennessee Board of Regents (TBR) higher education institutions chose to report amounts billed for qualified tuition and related expenses in BOX 2 of the 1098-T form. The amounts reported to the student and IRS for tax year will be the amount of qualified tuition and related expenses incurred (not paid) from January 1, 2008 until December 31, 2008. This amount may not include Spring 2008 and it may include Spring 2009 depending on when you registered and when the tuition was charged.

The parent, guardian, or student will be responsible for reporting to the IRS amounts actually paid out-of-pocket or with borrowed funds during the 2008 tax year for qualified tuition and related expenses.

The following are considered MTSU’s qualified charges:

Tuition - Undergraduate
Tuition - Graduate
Summer Tuition
Out-Of-State Tuition
RODP UG Tuition
RODP Graduate Tuition
RODP DSP Tuition
RODP Online Course Fee
RODP Out-of-State Tuition
Program Services Fee
ABAS - Materials Fees
Art Materials Fee
Biology - Materials Fee
Chemistry - Materials Fee
College of Business-Course Fee
Concrete Mgt-Certification Fee
Concrete Ind Mgt Materials Fee
Distance Education Fee
Music Fees Private Instruction
Nursing Testing Fees

According to IRS Publication 970, qualified tuition and related expenses must be adjusted by tax-free educational assistance. This includes:

• The tax-free part of scholarships and fellowships (including Lottery)
• Pell grants
• Employer-provided educational assistance
• Veterans' educational assistance
• Any other nontaxable (tax-free) payments (other than gifts or inheritances) received as educational assistance

For information by term with detail and dates of payments, grants and scholarships on your student account:

Log in to PipelineMT,
Click on RaiderNet, then on the Student and Financial Aid link.
Select Student Account.
Select Confirm Enrollment/Registration Payment/Account Detail for Term.
Select the Terms Spring 2008, Summer 2008, Fall 2008 and Spring 2009 and print the detailed information to determine the qualified tuition and fees actually paid during the tax year. 

We recommend that you refer to this information to assist you in determining the amount of credit which may be claimed on your behalf. This information must not be construed as tax advice. The amounts and calculations used to determine the credit are the decision of the taxpayer after consideration of relevant IRS regulations, Form 8863, and, perhaps, the advice of a tax consultant.  For more information about higher education tax credits or the tuition and fees deduction, you may read IRS Publication 970 or instructions for Form 8863.