Tax Deductions Earned

the tax deductions earned section displays tax deductible amounts earned by a student for a given tax year and is used to generate tuition tax forms eligibility for tax deductible charges is configured in docid\ rouigzumxkecharsfjt n only charges that meet these criteria will appear in the tax deductions earned totals tax deductions are recorded automatically when payments or deposits are applied to eligible invoice items or charges the earned amounts are grouped by tax year and program or course , allowing you to see the total tax deductible tuition earned for each year how tax deductions are earned tax deductions are recorded when payments or deposits are applied to eligible invoice items or charges payments are earned based on the date the payment is recorded , regardless of when the invoice or charge was created deposits are earned based on the date the deposit is applied to an eligible invoice item or charge the tax year is determined by the earned date rather than the original invoice or charge date for example if a charge is created in 2024 but the payment is made in 2025 , the deduction is earned in 2025 if a deposit is made in 2024 but applied to a charge in 2025 , the deduction is earned in 2025 viewing transaction details you can expand each row to view the individual transactions that contributed to the earned amount from there, you can expand each invoice or charge to see additional details, or click the invoice or charge id to open the full record this allows you to review how the earned deduction amount was calculated generating tuition tax forms to generate a tuition statement, click the generate tuition statement icon next to the earned amount this opens the generate tuition statement window in this window you can review the following details before generating the statement student – the student the statement will be generated for tax year – the tax year the deductions apply to earned for – indicates whether the deduction is associated with a program or course description – the program or course associated with the deduction statement type – select the type of tax form to generate available options include canada (t2202) united states (1098 t) once the information has been confirmed, click generate statement when generating a canada (t2202) statement, the system automatically determines the academic sessions associated with the student for that tax year and distributes the eligible tuition amounts across those sessions as required for the tax form generated forms are stored in the docid\ nxm p5rgpvrysue8jabrf section