Question

1098T

Forum|Forum|6 years ago
February 16, 2020
2 replies
0 views

I already filed my taxes which I added my working college student daughter I claimed as my dependent. I put her 1098T on my taxes which I didn't qualify for the tax credit. Do I put it on her tax return since in box 5 her Grant was $3098.00 and in box 1 her payments received for qualified was $2542.30?

L

linaj20201

Yes, if there is an excess scholarship amount, you would need to report on her tax return. You do not report it on your own taxes. If she has made enough wages and met the filing requirements, you would just add it to her taxes. It will be a taxable income to her. However, if this is the only income to her, she does not need to file.

D

Dawn836Author

I already filed taxes cause When I looked it up , it said you add the 1098T on the parents tax since she’s my dependent. So if I put it on her hers too will it affect anything?

Hal_Al

Employee

Q. So if I put it on her hers too will it affect anything on my return?

A. No, as you already said you were unable to claim the tuition credit.

Q. Do I put it on her tax return since in box 5 her Grant was $3098.00 and in box 1 her payments received for qualified was $2542.30?

A. She technically has $556 of taxable scholarship (unless she has other expenses, like books that she can offset), if she otherwise ("working college student") has to file a tax return.

There are possible other issues for you. What is her age and was she a full time student and how much wages did she earn (affects whether you can claim her as a dependent)? You actually may be able to claim a tuition credit.

D

Dawn836Author

After her tuition for classes was paid for from the grant they put the $556 in her bank acct. She used the money to buy books for her classes. She’s 19, lives with me and goes to a community college, She made $8889.88, and on the 1098T form it’s checked that she’s at least a half-time student. She was still in high school half the year.