Taxpayer Relief Act of 1997 (TRA 97) Form 1098-T

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The Taxpayer Relief Act of 1997 (TRA 97) provided new tax benefits (the Hope Scholarship Credit, the Lifetime Learning Credit, and a deduction for student loan interest) for taxpayers who are paying for certain post-secondary educational expenses.

As part of the TRA 97 legislation, eligible educational institutions were required to submit certain information about their students on a Form 1098-T. Beginning in tax year 2003, these institutions were also required to report amounts pertaining to qualified tuition and related expenses, as well as scholarships and/or grants.  Schools choose to use either Box 1 (Payments Received) or Box 2 (Amounts Billed).  MHC uses Box 2.

We hope that the 1098-T Frequently Asked Questions will assist you. Any additional questions, please call Deborah Johnson, at 413-538-2253.

Any questions related to your eligibility for tax benefits should be directed to your tax advisor or the Internal Revenue Service. Mount Holyoke College is not in a position to give any tax advice or tax preparation assistance.

All offsite links and documents below are provided as a courtesy and do not imply endorsement by Mount Holyoke College. 
Further information on any of these tax benefits may be found from the IRS Publication 970.  You may also find the following pdf resources helpful. 

• EdFund's Guide to Federal Tax Benefits
  EdFund's Federal Tax Benefits at a Glance

• National Association of Student Financial Aid Administrator's (NASFAA) Parent and Student Guide to Federal Tax Benefits for Tuition and Fees

Mount Holyoke College has contracted with Educational Computer Systems, Inc. (ECSI) to complete the processing of Form 1098-T forms.