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1098T Reporting

1098T Reporting. John Manguno. An actual photo of me after I was deemed the 1098T “expert” for 3D Technologies…. You may not have noticed, but the 1098T process this past year was especially problematic for institutions, and that was not only schools who used CAMS as their SIS.

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1098T Reporting

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  1. 1098T Reporting John Manguno

  2. An actual photo of me after I was deemed the 1098T “expert” for 3D Technologies….

  3. You may not have noticed, but the 1098T process this past year was especially problematic for institutions, and that was not only schools who used CAMS as their SIS.

  4. My extensive time working with 1098Ts this year both with clients and with Unit4 has taught me one thing, and it is that “I know nothing Jon Snow.”

  5. That doesn’t make for a very good presentation though, so instead we are going to cover the following topics in a discussion format: Understanding the underlying logic behind the CAMS calculations. The QTRE problem (There is no one way to define QTRE) How to troubleshoot the 1098T calculations (this is where I think the most investment needs to occur) How to provide 1098Ts to students.

  6. CAMS Calculation logic: Ledger Transactions The 1098-T Form process will only look at transactions on student ledgers and will not include items in the Billing Batch. Only transactions within the reporting scope will be considered. Reporting Scope Initiating the 1098-T Form will first evaluate Date and Term ranges and then create a temporary table (#TmpBilling) of transactions fitting these criteria. This includes all Billing and Non-Billing ledger transactions with a Transaction Date between the First Day in Report Year and Last Day in Report Year (Primary Report Scope). If dates are entered into the Adjusted Scholarships/Grants Date From and Adjusted Scholarships/Grants Date To fields, then CAMS will only consider appropriately marked transactions within this range (Adjustments Scope) for Box 6 calculations and ignore any scholarship adjustments within the Primary Report Scope that are associated with a prior year term. If no dates are supplied, then CAMS will consider scholarship adjustments within the Primary Report Scope that are associated with a prior year term. If transactions associated with a future term are to be included in the report (e.g. early payment for Spring of the subsequent calendar year), then the term must be selected in the Terms in Calendar year that begin January thru March field in order for the Future Terms flag to be set to Yes on the 1098-T form.

  7. CAMS Calculation logic: • Base Credits are first calculated by summing all Credit transactions within the Primary Report Scope—regardless of 1098 TransDoc flags or Term associations—whose TransDocs do NOT appear in Award Reference (aid-related); are NOT used in the Cost Center, Cost Type, or Campuses Reference Tables (exceptOnline Tuition Payment TransDoc); AND are NOT used for Course Fees or Registration Fees. • Deductible Aid is then calculated by summing all Credit transactions within the Primary Report Scope whose TransDocs DO appear in Award Reference AND are marked as Tuition 1098 Deductible. This amount is added to Base Credits. • Total Grants are then calculated by summing all Credit transactions within the Primary Report Scope whose TransDocs are marked as 1098 Scholarship/Grant. This amount is added to Base Credits and is also used separately as the Box 5 Scholarships or Grants value. • Non-Deductible Debits are then calculated by summing all Debit transactions within the Primary Report Scope whose TransDocs do NOT appear in Award Reference (aid-related) AND are NOT marked as Tuition 1098 Deductible. This amount is subtracted from Base Credits. • The final formula for calculating Tuition Credits (Box 1) is Base Credits + Deductible Aid + Total Grants – Non-Deductible Debits.

  8. CAMS Calculation logic (John’s version) Essentially, the report gets the full Credit amount of all transactions in the report scope and then uses the non-deductible debit amounts in order to “lower” that amount down to QTRE. Examples would be things like Meal transdocs which would be non QTRE and which should be non-deductible debits. This method demands proper Transdoc setup, and even then isn’t always very intuitive.

  9. CAMS Calculation logic (John’s version) Essentially, the report gets the full Credit amount of all transactions in the report scope and then uses the non-deductible debit amounts in order to “lower” that amount down to QTRE. Examples would be things like Meal transdocs which would be non QTRE and which should be non-deductible debits. This method demands proper Transdoc setup, and even then isn’t always very intuitive.

  10. QUALIFIED TUITION AND RELATED EXPENSES (QTRE) Where to look for help: NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS You really need to know what constitutes QTRE at your institution and my starting point for any 1098T troubleshooting starts with the manual calculation of all fields for a handful of students to check against. You need to know EXACTLY what each box needs to be, because you can’t trust that it will just be correct because CAMS is doing the math! Доверяй, но проверяй

  11. So you want to troubleshoot! This gets a little technical, but in my opinion, this script is exactly what every school needs when validating their 1098T results. And as a side note, 3D helped schools with everything from simple updates to the process to exclude certain terms or transdocsall the way to completely customizing the calculation process. The CAMS 1098 calculation process updates historical and live tables every time it is run, so we don’t want to do that, but we do need to have the data we return be an exact copy of the live data. The way we do that is by making a modified copy of the [dbo].[CAMS_A1098TForm] stored procedure which will we “wrap in a BEGIN/ROLLBACK TRANSACTION.

  12. Step 1 is to determine all of the parameter values. This can be done in Profiler or manually.

  13. Next , since we want to run it for individual students, we need to limit the transaction temp table created in the SP

  14. Now we are going to create select queries to show us exactly which transactions go in each Box. This is done by copying the criteria used in the stored procedure in the blocks that actually set or update those values.

  15. At the end, we rollback the transaction so that nothing in the IRSForm1098 or IRSForm1098History gets changed.

  16. At the end, we rollback the transaction so that nothing in the IRSForm1098 or IRSForm1098History gets changed.

  17. Finally, if you choose to email students and auto upload 1098s to CAMS Document Tracking, 3D has a process for that.

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