1098-T BOF Pam Noone Bucknell University PA BUG – November 2005

Introduction Bucknell has been producing 1098Ts in- house since tax year Laser forms from Moore Wallace Tax Relief Act (TRA) 1098-T Reporting Handbook Hardest part – decisions, decisions, decisions

BANNER Set Up Install regulatory release for TRA reporting (p released October 12, 2005) TTVREPT – Create tax report codes (can be reused each year) TSATAXR – Attach detail codes/categories to each report code (copy rules from prior year) TSA1098 – Complete both the transmitter and institution information

BANNER Set Up (continued) TSP1098 – Test mode; Official when ready TSATAXN – Remove Notif manually TSR1098 – Test mode; Official when ready TSRTRAF – Print detail to include in mailing? Mail 1098-T forms (with enclosures?) to students by January 31, 2006 Transmit IRS1220.dat file to IRS

Helpful Hints/Resources Test as soon as the regulatory release is available from SungardSCT Pay special attention to TSP1098 error report Turn web access off until official Create reports to look at data IRS Instructions for Forms 1098-E & 1098-T IRS Publication 970

Lets Talk! Questions/Comments Pam Noone – PA BUG – November 2005