Tax Services

The primary mission of the Tax Services Office is to provide tax planning and related services to the University; serve as an information resource and provide advice on tax-related issues; develop systems and reporting procedures to maximize compliance with Federal, State and local tax laws, rules and regulations; coordinate the timely and accurate submission of various University tax filings; determine the budgetary impact of compliance initiatives on University departments; and to identify and quantify potential areas of tax exposure.

Tax Benefits

The following list includes tax benefits that the federal government makes available to taxpayers that are saving for or paying for higher education costs:

  • Scholarships, Fellowships, Grants, and Tuition Reductions
  • American Opportunity Credit
  • Lifetime Learning Credit
  • Student Loan Interest Deduction
  • Student Loan Cancellations and Repayment Assistance
  • Tuition and Fees Deduction
  • Coverdell Education Savings Account
  • Qualified Tuition Program
  • Education Exception to Additional Tax on Early IRA Distributions

Detailed information about these tax benefits can be obtained by accessing Publication 970 on the Internal Revenue Service website.  You can access this publication by clicking on the following link:

http://www.irs.gov/pub/irs-pdf/p970.pdf

1098-T Tax Reporting

An eligible educational institution, such as a college or university, in which you are enrolled must furnish this statement to you.  You or the person who may claim you as a dependent may be able to use this information to take either a tax deduction or claim an education tax credit for actual tuition and fees paid.  The Internal Revenue Service allows colleges and universities to report either qualified tuition and related expenses paid or qualified tuition and related expenses billed.  Troy University has elected to report qualified tuition and related expenses billed.  Consequently, the amount billed will be reported in Box 2 of the form 1098-T, and does not represent the amount you actually paid.  You should consult with your tax advisor to determine the appropriate amount that is eligible to be used for the calculation of any tax benefits.

1098-T Electronic Consent

Students and parents can get 1098-T tax information quickly by taking advantage of Troy University’s enhanced electronic tax information service.  This service will allow you to electronically review and print your form 1098-T from anywhere when you log on to https://www.tsc1099.com/login1098.aspx.  This system makes the information more accessible, reduces University costs, and is good for the environment.

In order to receive your form electronically, you must consent to this delivery system. Please visit http://it.troy.edu/students/1098t.html today and get instructions to provide your consent. This consent will apply to the current tax year and all subsequent years.

We hope the convenience of accessing your 1098-T form electronically will help with the preparation of your tax return.  If you have any problems retrieving your 1098-T after you have consented to receive it electronically, please contact our help desk @ ask@troy.edu or 1-800-414-5756 and they will assist you.

This information is not intended to be tax advice. It is only meant to make students and parents aware of possible tax benefits. You should consult with your tax advisor to determine if you qualify for any of these tax benefits.


Staff

Senior Accountant for Tax Services
Adams Administration Building
Suite 159
Troy, Alabama
(334) 670-3241

Forms