1098 Processing
Government or governmental entity must file form 1098-F for fines, penalties, and other amounts and an eligible education institution to whom they made reimbursements or refunds of qualified tuition and related expenses must file form 1098-T with the IRS.
In Advantage Financial, 1098 reporting is the process that reports fines, penalties, reimbursements or refunds to the IRS for the calendar year. 1098 data is captured in the 1098 External Reported Income throughout the calendar year.
This topic includes the following areas:
