RIO Ready: Form 1098-T Document Generation Functionality
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This functionality contains components to assist in generating Form 1098-T for the US IRS.
For more information on Form 1098-T, please see the IRS link here.
Note on Form 1098-T
The 1098-T document is required to be submitted every year for taxation purposes in the US, and is subject to changes by the IRS annually.
The IRS requires a 1098-T to be generated for any student that meets the following criteria:
- Students who have taken courses for academic credit.
- Residential students (both US Citizen and non-US Citizen), and,
nonresident non-US Citizen students who request a 1098-T.
- Students whose qualified tuition and related expenses are entirely waived or paid entirely with scholarships.
- Students who have a financial account with the university, and whose tuition and related expenses are not covered by a formal billing arrangement between the institution and employer/governmental entity.
To set this up, see this article here.