1098Ts Generating for the Incorrect Amount

When Credits that are included in tuition for 1098Ts are applied to Refund items, the Amount Billed (box #2) will be increased because the Credits will no longer be counted against the billed amount.  This happens when Credits are entered manually to reverse tuition charges.  Credits created by the Reversal Schedule would have been applied to the Charges and then Payments that were originally applied to these Charges could then be Refunded, therefore, this issue would not exist.

 
 

This discrepancy can occur due to how the system tabulates the 1098T activity.  It determines the Amount Billed (box#2) by adding all of the the Charges flagged for qualified tuition expenses and  then finding the Credits that are applied to them. Since the Refund items are never included in the 1098T calculation, the credits connected to Refunds are never counted.

There are a few way to correct the issue:

Method 1:

1. Unapply the Refunds from the Credits (this may require that you void/purge a Refund Check, if present)

2. Unapply Payment from the Tution Charges (typically an Invoice line item)

3. Apply the Credits to the Charges

4. Apply the Refund to the Payment

5. Recreate the Refund Check if applicable.

Method 2:

1. Open the Student's Record 

2. On the Bio 1 tab select the 1098T info button

3. Edit or Add a tax year with the correct information.

Method 3:

1. Go to Adminstration, Import

2. Create a new Tax Year import

3. Import the desired information for "Amount Billed"

Environment

 7.82.104, patch 2

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