Understanding Your 1098T

(A) Form 1098T
The provisions of The Tax Relief Act of 1997 require all eligible educational institutions to submit an informational file with the IRS. Each eligible institution must also provide all students for whom an informational return is filed, with a similar statement known as a 1098T form. The 1098T form contains the same information that is provided to the IRS. It is not required that form 1098T be attached to your tax form.
(B) Filer's Information
Name, address and telephone number for Marygrove College.
(C) Filer's Federal Identification Number
Taxpayer identification number (TIN) for Marygrove.
(D) Student's Social Security Number
Student's TIN - also known as a social security number. Changes or corrections to your social security number must be made in person at the Registrar's Office. The federal government requires us to use a social security number when issuing a 1098T. If a student does not have a valid social security number, we cannot issue a 1098T to the student.
(E) Student's Name and Address
This is the name and current address of the student. Your 1098T is mailed to your permanent address from the Student System. Changes to your address can be updated through the Registrar's Office.
(F) Box 1 and 3
For the 2003 tax year, the college is required to provide information in either boxes 1 and 3 or boxes 2 and 4. Marygrove has chosen to provide information in boxes 2 and 4
(G) Box 2
Amount billed for qualified tuition and related expenses are tuition and fees required for enrollment or attendance at an eligible educational institution. Qualified tuition and related expenses are those incurred between January 1, 2003 and March 31, 2004. Winter 2003 charges may not be included on this statement if your registration occurred prior to January 1, 2003. You will need to consult a tax advisor for qualified charges for previous years.
(H) Box 4
Grants and scholarships are Tax free educational assistance regarded as gift aid under the provisions of the Tax Relief Act of 1997. Grants/Scholarships included are those awarded and posted to your account between 1/01/2003 and 12/31/2003
(I) Box 5
The college is not required to provide information in this box for the 2003 tax year.
(J) Box 6
This box will be checked if any amount billed for qualified tuition and related expenses reported for 2003 relate to an academic period that begins in January through March of 2004
(K) Box 7
The college is not required to provide information in this box.
(L) Box 8
Indicator specifying if the student was enrolled at least half-time (minimum of 6 credits) during any academic period beginning in 2003.
(M) Box 9
Indicator specifying if the student was enrolled in a graduate program leading to a degree or certificate.

How Do I Get Additional Information?
Questions concerning the Hope Scholarship and Lifetime Learning Tax Credits may be directed to your tax advisor or your local IRS office. More detailed information is also available at the following web sites:
http://www.irs.ustreas.gov/hot/tax-law.html
http://www.ed.gov/offices/OPE/PPI/HOPE/index.html
http://www.nacubo.org/public_policy/education_tax_credits/content.html
http://www.ed.gov/updates/97918tax.html

Note: The IRS has asked us to remind taxpayers that they should refer to IRS forms and publications for explanations about eligibility and/or calculation education credits. They should not refer to the institution issuing the 1098T.