Every year, NMSU prepares and sends to applicable students a Tax Form 1098-T Tuition Statement to assist them in determining eligibility for educational tax credits. It is a tax statement that provides a student with the amount of payments made toward Qualified Tuition and Related Expenses (QTRE) on their student account during the tax (calendar) year. The 1098-T form is an informational document and does not need to be attached to your tax return. While a Form 1098-T may be issued, a student’s personal financial records serve as official supporting documentation for a federal tax return. There is no IRS requirement that you claim a tuition and fees deduction or an education credit.

Tax Form 1098-T will be available to students by January 31 ^st and will provide the following information:

• A summarization of the total amount of qualified tuition and fees
• Summarization of the total amount of scholarships and grants received
• Indication if the student attended at least half-time during the calendar year
• Indication if the student was a graduate student
• Indication if some of the qualified tuition, scholarships and grants were adjusted from the previous reporting year

Tax Form 1098-T will not be printed and mailed, or filed for:

• Students whose entire qualified tuition and related expenses were waived or paid for with a grant or scholarship
• Students whose entire qualified tuition and related expenses were paid under a “formal billing arrangement” where the institution:
  • bills only an employer or governmental entity, and
  • does not maintain a separate financial account for the student
• The noncredit courses in which a student is enrolled, even if the student also is enrolled in credit courses

For information and assistance in the calculation of any applicable education tax credit or in the preparation of your income tax return, we recommend you contact a tax preparer, refer to IRS Publication 970 (Tax Benefits for Higher Education) or contact the IRS at (800) 829-1040.