Scholarship question
If my daughter has a full time job and we are filling separate but she is a full time college student who claims her scholarship income?
If my daughter has a full time job and we are filling separate but she is a full time college student who claims her scholarship income?
The STUDENT is always responsible for scholarship income (the student's SSN is on form 1098-T)!
That reportable income can be reduced dollar for dollar by the Qualified Educational Expenses (box 1 of form 1008-T plus other qualified expenses, normally books or a computer, purchased outside the university)
if the qualified educational expenses exceed the scholarships, there is nothing to report on the student's tax return .
Since you are filing SEPARATE, you are ineligible for the AOTC tax credit.
does that help?
Enter your E-mail address. We'll send you an e-mail with instructions to reset your password.