1098T in students name. Parents claimed student as dependent this year. They did not benefit from the educ credit since income was too high. Can student take educ credit?
1098T in students name. Parents claimed student as dependent this year. They did not benefit from the educ credit since income was too high. Can student take educ credit?
There is a rare (very rare) exception. If the student actually has a tax liability, there is a provision to allow him to claim a non-refundable tuition credit. But then the parent must forgo claiming the student as a dependent, and the $500 other dependent credit. The student must still indicate that he can be claimed as a dependent, on his return.