1098T tax form updates

Carolyn Davy
Carolyn Davy Blackbaud Employee
Ninth Anniversary Kudos 1 Participant Facilitator 1
in Blackbaud Higher Education Solutions™ General Discussions
Recently some updates were made to the Tax forms area of Billing management to more accurately handle 1098T reporting including:
  • Updates to the Payments received calculation to take into account whether individual line items qualify or not
  • Updates to Scholarships/grants calculation to include any financial aid received (and not just those applied to qualified tuition and expenses)
  • A way to manually edit the calculated amounts for any of the boxes to handle any manual overrides that need to occur
We would love to get your reactions to these changes and the Tax forms area in general!  Feel free to comment to this post or let us know if you would like to have a conversation.


We appreciate any feedback you can provide!  Thank you!

 
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Comments

  • Dawn Alonso
    Dawn Alonso
    Sixth Anniversary Kudos 3 Name Dropper Participant
    Looks good so far, I peeked at it after seeing this. Looks like it will be easy to use, hopefully the capability to upload to the IRS is coming. The only issue I don't know how it is going to shake out is; I have 4 people who show up with the name Unknown User, however when I click on the Unknown user it tells me I am in John Smith's tax form.  I am just hoping John Smith would appear on the tax form, not Unknown User, and there is no way for me to edit that field on the form.


    I appreciate everyone's efforts to get this going.  I will take a look in a few week after the back to school brewhaha has died down and see if that same issue is still there and reach out to tech support if so.
  • Carolyn Davy
    Carolyn Davy Blackbaud Employee
    Ninth Anniversary Kudos 1 Participant Facilitator 1
    Hi Dawn!!  Thank you so much for your feedback and for taking the time to take a look at the functionality.


    We will take a look at why the Send to agency functionality isn't showing up.  We are also working on a fix for the list showing Unknown user instead of the appropriate names.


    We look forward to any additional feedback you may have!!


     
  • Dawn Alonso
    Dawn Alonso
    Sixth Anniversary Kudos 3 Name Dropper Participant
    HI Carolyn,


    I just wanted to round back on you with the 1098T.  I started looking at the forms for the students that we have that withdrew in the 2020 calendar year.  It seems as thought the calculation for Payments is including any credits towards a fee.  So if a student leaves and I need to credit 80%, 50%, or 25% of their fee, it is using those credits that I am adding as a payment. 


    We did not set up the Tuition Refund calculation and I am wondering if that is what is causing this.  We have an outside agency that calculates our R2T4 so I didn't think about setting up that aspect of the system, until just now.


    Thoughts?


    Dawn
  • Carolyn Davy
    Carolyn Davy Blackbaud Employee
    Ninth Anniversary Kudos 1 Participant Facilitator 1
    Hey there Dawn! I would love to dig into your scenario more.  I would love to know more about how you are creating those credits (what fee are you using to create the credit and is that fee marked to be included in 1098Ts).  If you give me an example student, I can dig in and see what's going on.

    Thanks!

    Carolyn
  • Dawn Alonso
    Dawn Alonso
    Sixth Anniversary Kudos 3 Name Dropper Participant
    Hi Carolyn,


    Christopher Colby is one instance.  When you look at his tax statement, It shows payments $141.82 higher than they actually should be.  We did refund his enrollment deposit as we have done with all other seniors that year, that is $200.  I then put a $58.18 charge on his account for textbooks that were not returned. I then put a Miscellaneous charge on his account for the refund of the remainder of the $141.82.  This is something that we have done with other graduates in 2020 (and every other year.)  The Miscellaneous charge is set up not to be included in the tax form calculations.


    Let me know your thoughts.


    Dawn
  • Dawn Alonso
    Dawn Alonso
    Sixth Anniversary Kudos 3 Name Dropper Participant
    Carolyn,


    Sorry, I just realized that is an example highlighting a similar but different issue along the same vein.


    For a withdrawn Student Example-Donovan Roque.

    He withdrew 10/9/20

    Adjusted Tuition by $7045-added a credit with the Tuition Fee 

    Adjusted Room and Board by $1250-added a credit with the Room and Board Fee

    I adjusted the totals to his tax account because he should only recieve $9260 as total payments paid and $8295 as scholarships, but his tax form comes up as $23,650 and $16,730 respectively.

    Dawn

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