Tax Information
How to Retrieve Tax Information
1098-T forms are available for you to view and print on January 31st if you consented to view online in your MyUTK.
- Log into MyUTK.
- Click the “My Resources” tab on the far left at the banner at the top of the screen.
- Select the “Banner Self-Service Home” option from the dropdown menu.
- In the page that opens, click on the “Student” link.
- Click “Student Account.”
- On the next page, select the “Tax Notification (1098-T)” option.
- From the next screen, students can view and export all available 1098-T documents.
If you did not consent to view online in your MyUTK, your 1098-T will be mailed out by January 31 to the current address you provided in MyUTK. If needed, additional copies can be requested here.
About the 1098-T
The Form 1098-T is not an income reporting document; it is an informational document. This annual statement provides the amount of tuition charged on your account during the calendar year and is required from the educational institution by the IRS. The 1098-T form will help determine if you are eligible for an Education Tax Credit.
If you had qualified education expenses that were billed during the tax year, a 1098-T form should be mailed to you in January for the previous tax year. If grants and scholarships exceed the qualifying educational expenses for the same year, you will not receive a statement.
This document exists to assist students in determining if they are eligible to take an education tax credit or deduction. It is up to the taxpayer to decide, based on their circumstances, whether they are credit-eligible.
More information concerning the CARES refund can be found on the IRS website
Tax Form Details
Box 1—The total payments from any source received by an eligible educational institution in the previous year for qualified tuition and related expenses less any reimbursements or refunds made during that year that relate to payments received. Please note the amount in Box 1 will NOT equal to or sum to the charges paid for the previous calendar year because all charges are not considered qualified tuition and related expenses as defined by the Internal Revenue Service. Health fees and counseling fees are not qualified; therefore, the full amount of the Program and Services Fee paid will not be reported. See the chart below for a list of qualified and unqualified expenses.
| Charges Reported | Charges Not Reported |
|---|---|
| Payments for tuition and fees required for enrollment, payments to the institution for books and supplies | The following payments are generally not mandatory for enrollment and/or cover personal expenses. |
| Tuition | Tuition or other payments for courses related to sports, games, or hobbies (unless they count toward a degree) |
| Books, equipment, supplies (if required to be purchased from institution)* | Dining/meal plan payments |
| Course or program fees (e.g., lab, art, music) | Health or disability insurance fees (even if required; excluded by statute) |
| Distance learning fees | Housing payments |
| Enrollment confirmation fees | Late payment fees |
| Exam fees (for placement, testing out of credit courses, or if required for degree program) | Library fines |
| Information and technology fees | Loan processing fees |
| Malpractice insurance (if required for clinical courses) | Orientation fees (portion that covers expenses for overnight stays) |
| Records fees | Parking permits |
| Student athletics fees (if required, no personal benefit provided) | Parking fines |
| Student life/activity/association fees | Student health fees |
| Other mandatory fees (no personal benefit provided) | Transportation fees (if providing individual benefit) |
Box 2—Reserved
Box 3—Shows whether UT changed its method of reporting in the previous calendar year.
Box 4—It is the amount of any adjustments made for a prior year for qualified tuition and related expenses that were reported on a prior year Form 1098-T. This amount may reduce any allowable education credit you may claim for the prior year. See Form 8863 or the IRS Pub 970 for more information.
Box 5—Includes the total of all scholarships, grants, internal NPEs and fee waivers administered and processed by the university. If scholarships or grants for the current year were actually awarded in the previous year, they will appear in Box 5 and Box 1 up to the amount of qualified expenses. (Example: A student was awarded Spring 2024 Scholarships and grants in Fall 2023.)
Box 6—The amount of any adjustments made for prior year scholarships, Internal NPEs grants, and fee waivers that were reported on a prior year Form 1098-T. This amount may reduce any allowable education credit you can claim for the prior year.
Box 7—Will be checked if the amount in Box 1 includes amounts for an academic period beginning January–March of the current calendar yer. See the IRS Pub 970 for how to report these amounts. This box is checked.
Box 8—Indicates whether you are considered to be carrying at least one-half the normal full-time workload for your course of study at UT. If you are at least a half-time student for at least one academic period that begins during the year, you meet one of the requirements for the Hope Credit. You do not have to meet the workload requirement to qualify for the tuition and fees deduction of the lifetime learning credit.
Box 9—Indicates whether you are considered to be enrolled in a program leading to a graduate degree, graduate-level certificate, or other recognized graduate-level educational credential. If you are enrolled in a graduate program, you are not eligible for the Hope credit, but you may qualify for the tuition and fees deduction or the lifetime learning credit.
Box 10—Will always be blank on any 1098-T form you receive from UT.
529 Tax Implications
A 529 plan is an educational savings plan designed to help families save for future college expenses. Funds from a 529 plan can be used for various qualified educational costs at UT. If you have a 529 plan, please contact your 529 account manager to learn about the process for withdrawing funds.
Please note: Per IRS guidelines, all 529 plan withdrawals must be taken in the same year that the qualified tuition related expenses have been incurred. If not, the withdrawal will be taxed at your normal tax rate, and you could incur a penalty.
Example:
Mr. Smith withdrew $10,000 from his 529 in December 2023 to pay for Timothy’s Spring 2024 tuition, which is effective in 2023. Mr. Smith will receive a 1099-Q from the 529 plan administrator for the withdrawal in 2022. Mr. Smith’s 529 payment will reflect on Timothy’s 2023 1098-T statement.
Form 1098-T is used to determine whether or not the student qualifies for federal education tax credits, such as the American Opportunity Tax Credit (AOTC) or the Lifetime Learning Tax Credit (LLTC). Form 1098-T will list the amount of the 529 plan distribution and how much was used to pay for college tuition and fees, but it is up to the 529 plan account owner to calculate the taxable portion.
Frequently Asked Questions
How do I receive a copy of Form 1098-T?
You can access your digital copy by following the instructions under the “How to Retrieve Tax Information” section of this page.
You can request a copy of Form 1098-T to your physical mailing address. The IRS requires FORM 1098-T to be postmarked by January 31 of the following year. This form will be mailed to the permanent address (not billing address) of students who were enrolled at UT for at least half-time during the calendar year. You can change your address in MyUTK.
Why didn’t I receive a 1098-T form for the year?
Here are a few reasons why you might not have received a 1098-T form:
- You had no eligible tuition charges billed during the year.
- Your grants and scholarships exceeded the “billed” eligible tuition charges for the year.
- You had adjustments (registration and or financial aid) from the previous year that offset the current year’s billed charges.
For additional information, please refer to the IRS rules. W2 wage and 1042-S tax statements are provided by the Payroll Office.
Where can I get a listing of payments made to UT?
View your qualified fees assessed and payments applied to those fees on MyUTK. If you aren’t able to get this information on the website, a statement can be mailed to your billing address.
Since I received a Form 1098-T from UT, am I qualified for one of the education tax credits?
The taxpayer is responsible for determining eligibility.
How can I find out if I’m eligible for a tax benefit?
Check the IRS website, contact the IRS, or contact a tax advisor.
I no longer attend attend, or have graduated. How do I access my 1098-T?
You can access your 1098-T online at 1098.tennessee.edu. Please note you may not be able to access your form until February 1.
What are qualified and non-qualified expenses?
The federal government defines qualified expenses as expenses required by and paid to the institution for enrollment purposes. They include fees for maintenance, tuition, technology, facilities, and a portion of the programs and services fee.
Non-qualified expenses are defined as books, room and board, student activities, parking, athletics, insurance, equipment, or other similar personal living expenses.
Therefore, the amount of qualified expenses will likely be less than the total amount of money paid.
Questions?
University staff cannot provide tax advice. Tax questions should be referred to a tax advisor or the IRS website.