Setting Up 1098-T Reporting

1098-T is a federal IRS form used for eligible tax credit payments and billings. The InSight transaction report can assist in obtaining the data required for the form.  For details on eligibility and regulations, refer to IRS publications.

Applies To:    Enterprise    Plus     Basic

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Tagging Records as Tax Credit Eligible

To ensure Courses and Revenue Items appear on tax credit-eligible reports, they must be tagged appropriately.

Steps to Tag Courses and Revenue Items:

1. Open the Main Menu.
2. Go to Main Menu > Courses.
3. Edit each desired Course and check the Tax Credit Eligible checkbox.
4. Save.
5. Go to Main Menu > Selects > Revenue Items.
6. Edit each desired Revenue Item and check the Tax Credit Eligible checkbox.
7. Save

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Printing Tax Credit Eligible Transactions

To generate a report of transactions that match both Course and Revenue Items tagged as Tax Credit Eligible = Yes:

1. Open the InSight Menu.
2. Select Financial.
3. Click Revenue-Expenses.
4. The report will display transaction records where the Revenue Item is tagged as Tax Credit Eligible.

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