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Session Title: 1098-T Payments Received Method and Payment Plans
Presenter: Brian Robson, Product Manager- Student Administration, Information and Technology Services, University of Michigan
The University of Michigan has changed its 1098-T reporting method for 2018 from Amounts Billed to Payments Received. The delivered process works well for most payments applied to qualifying tuition and related expenses (QTRE), but our payment plans, which can apply to both QTRE and non-QTRE, became problematic. Learn about potential solutions Michigan considered, and the modification we ultimately made to the 1098-T process, to handle such payment plans.