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.
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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, refer to Financial Aid Processes File Management.
Prerequisites
You must have:
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Common - Processes - View authorization
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Regulatory 1098T - Processes - Manage Batches - Manage Batch Data authorization
Access Method
Select the Processes tile > expand IRS 1098-T.
This feature applies to U.S. compliance only. |