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mlcharley78
February 20, 2023
Question

1098T

  • February 20, 2023
  • 1 reply
  • 0 views

Is it required to file a 1098T on taxes if the person filing separately as a dependent? 

    1 reply

    AmyC
    AmyC
    Employee
    February 20, 2023

    1098-T is an information form. It may need to be reported on the dependent's return for scholarship income. It can be reported for education credits on the return claiming the student.

    If your income does not allow the credit, it is not necessary to file the form.

     

    The IRS changed the limitations to claim Education credits. The phaseout for education credits is a modified AGI of:

    • $80,000-$90,000 or
    • $160,000- $180,000 MFJ

    The IRS allows you to manipulate numbers by claiming where the money was spent.

    For more, see Tax Benefits for Education: Information Center| IRS

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