1098-T Forms

Institutions must provide the tax form 1098-T, Tuition Statement, to students or parents of dependent students each year by January 31 to report payments received and payments due for every student that is currently enrolled and paying qualifying tuition and related expenses. Based on the 1098-T filed with the tax returns, the Internal Revenue Service (IRS) determines educational tax credits, such as the Hope credit or Lifetime Learning credit for eligible students and families.

If you have not previously used Anthology Student to generate 1098-T information, the first time you use Anthology Student for 1098-T reporting, you must enter the initial year that your institution used the Box 1 method to report 1098-Ts to the IRS. When prompted, specify the Initial Box 1 Reporting Year and select Save.

Anthology Student enables you to manage 1098-T forms for your institution using the following options in the Processes > IRS 1098-T menu.

Location Task

Cleanup Tool

•   Review student ledger card transactions

•   Manage the status for transactions by selecting or clearing the following flags:

•   Include in 1098-T

•   Previous Year Adjustment

•   Exclude Box 4

•   Multiple Payments

•   Identify refunds linked to prior year COD payments

Manage Batches

•   View, add, edit, and delete 1098-T batches

•   Lock and unlock batches

•   Change the Box 3 status for batches

•   View the list of student records included in a 1098-T batch

•   Add to or remove students from a 1098-T batch

•   Print 1098-T forms and substitute statements

•   Create and export an electronic file of 1098-T records per IRS specifications

•   Generate summary reports and student statements

•   Specify a date range when the 1098-T forms are available via the Student Portal so that students can download or print their forms. (The messages associated with accepting a copy of the 1098-T form are set up in the Portal Configuration tool.)
Import Collections

•   Import transactions that were recorded on a system other than Anthology Student

Financial Aid Processes File Management

Anthology Student version 22.0 and later enables customers to manage files in Azure File Storage using the Financial Aid Processes File Management form under Processes > System Administration. Without this form, users cannot upload or download files to Azure File Storage due to security restrictions. The file management functionality enables you to place files in the location where specific financial aid processes (e.g., Application Data Export/Import, Clearinghouse, NSLDS Reports, and others) expect to find the files. For more details, see Financial Aid Processes File Management.

Prerequisites

You must have:

  • Common - Processes - View authorization

  • Regulatory 1098T - Processes - Manage Batches - Manage Batch Data authorization

Access Method

Select the Processes tile > expand IRS 1098-T.

Topics Available