1098 Form

The Print 1098T Forms produces the 1098T Form B tax forms for the students. CAMS Enterprise determines which transactions are included in the 1098-T report by checking the 1098 designations in the TransDoc record. TransDoc records are defined in CAMS Manager >Lookup Table Options >Transaction Documents table. ONLY TransDocs with a selected 1098T checkbox are included into calculations.

Note: The Unit4 support team will not give tax advice on filling out the 1098-T form; please seek a professional tax expert to ensure accuracies in reporting.

CAMS Enterprise uses the Amounts Billed for Qualified Tuition and Related Expenses or Payments Received for Qualified Tuition and Related Expenses methods of reporting. Additionally, users may make individual 1098T modifications to students' information as necessary.

Please refer to the 1098 Calculation Logic document for troubleshooting tips and a technical guide on how CAMS assesses ledger transactions to arrive at final amounts on the 1098-T Form.

Note: Please ensure that you read the complete instructions below to ensure that your 1098s are correct before you print and mail them to students.

To Generate the 1098T Tax Form

  1. From the CAMS Enterprise Home page, click Billing >Reports Menu >1098 Form. The 1098-T Form window opens.
  2. Choose the Calendar Year to Report (cannot be earlier than 1998).
  3. Select First Day in Report Year as January 1st.
  4. Select Last Day in Report Year as December 31st.
  5. Define the First Term in Calendar Year.
  6. Define the Last Term in Calendar Year.
  7. Chose EACH TERM from the next calendar year as future terms on the form, select the appropriate term(s) from the Terms in Calendar Year that begin January thru March 20xx.
  8. If you want the Graduate field to be checked, you must select the Graduate is Determined by College Level or Graduate is Determined by GPA Grouping(s) that will be considered graduate level. If all your students are graduate level and you have multiple College Levels or GPA Groups, you must select all College Levels or GPA Groups.

Note: You can use either College Levels or GPA Groupings to determine graduate levels, but not both.

  1. Select specific accounts receivable types, if required, to print smaller amounts of forms at a time.
  2. Select whether a student must have a Social Security Number to receive a 1098T

Note: If this process has already been run, clicking Initiate again will prompt the user to confirm that all prior 1098T data will be overwritten in the IRS table but no changes will be made to the student ledger in CAMS Enterprise. All changes to information are audited in the database. Any modifications to student's 1098T data will be overwritten.

  1. Click the Initiate button.
  2. The Verification data grid will display.
  3. Changes can be made to the student's 1098T reported data by double-clicking on the appropriate row. No records will be changed in CAMS Enterprise.
  4. A reason for change must be entered if modifying data to the student's 1098T.

Note: Clicking Update will not save changes to the IRSForm1098 table in the database. In order to save changes to the database, you must complete the next step and confirm them by generating a Standard, Verification List, or Labels Crystal Report in the Report tab. If changes made in the Records tab are not reflected in the report, you may be running a custom or deprecated format, or your rpt1098Form.ssi may not be pointed to the most current report files.

  1. Select the Verification List Report Format, and click Print. The verification list displays.
  2. After verifying the information, you can print the 1098 forms using the Standard option. This will print a form which is acceptable to the IRS; it is not necessary to purchase 1098-T forms.

Note: You must first complete this process in order to export the form in an electronic format in the 1098 Export window.