From: Denis Riker (driker@bc.barnard.columbia.edu)
Date: Wed Feb 02 2000 - 14:32:57 EST
Deb,
Although Barnard College did not report financial data on the 1098T itself,
we did send a supplemental form with financial info. We are a Colleague
school, but we wrote our own program to download data to CDSI/TCRS who
handled our reporting to students & IRS. On our supplemental form, we
provide students with the lower of their payments or qualified charges for
1999.
We charged all preregistered students for spring 2000 in 1999, & our
payment deadline was also in 1999. So far, so good. However, a few
students registered or were admitted for spring 2000 in 1/00, were charged
in 1/00, but paid a deposit in 1999. Though we'd initially included only
qualified charges & payments posted in 1999, on the advice of both NACUBO &
CDSI/TCRS, we're backtracking now to also report those who incurred
qualified charged in 1/00 for a term that begins by 3/31/00 (per the regs)
& paid in 1999. For us, there are very few students in this situation, but
it makes life interesting doesn't it?
Hopefully, the feds will address this issue when final regs are published.
Denis
At 05:11 PM 1/31/2000 -0500, Debbie Tran wrote:
>Hi, Folks.
>
>We have chosen to report financial data on the 1098t forms for 1999.
>The data we submitted was based on the posting date of the
>transaction in our ar system (we are a Colleague site- and are not
>using Datatel's program for this but wrote our own). Our spring '00
>tuition and fees were charged to the students in November '99 and
>therefore were reported as 1999 1098t transactions even though most
>students did not pay their spring '00 fees until 1/00, which was when
>the fees were actually due.
>
>Some students think that the spring '00 fee charges should show up on
>the 2000 1098t since that is when they were due and when most of
>them paid.
>
>For those of you reporting financial data, can you please tell me if
>you are reporting the data like we are? If so, why? Are there any
>specific guidelines as to why we should report this way? We just
>did it this was because of the administrative ease. If you are
>not, reporting this way, how are you reporting and why?
>
>Would appreciate your comments.
>
>Thanks.
>
>For those of you who voluntarily report the financial data for the
>1098t forms for the Tax Payer Relief Act, can you tell me for 1999,
>did you report activity with a date of 1999
>
>*********************************
>Deborah Tran
>Director of Fiscal Services
>UC Hastings College of the Law
>200 McAllister Street
>San Francisco, CA 94102-4978
>Phone: (415) 565-4740
>Fax: (415) 565-4698
>********************************
>
>
>
*******************************************************
Denis Riker, Bursar
Barnard College
Columbia University
3009 Broadway
NY, NY 10027-6598
V: (212) 854-2026
F: (212) 854-3888
E: driker@barnard.edu
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