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1098T

jesmithjr86
Level 3

The 1098T recipient can be claimed on the parents tax return.  Student has a part time job with a W2 and 1099-Int.  No tax withheld no tax due and no refund.  Should the 1098T be included in the students return or the parents return?

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8 Comments 8
Just-Lisa-Now-
Level 15
Level 15

if the parents are claiming the student, it goes on their return.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
sjrcpa
Level 15

Parent's.


Ex-AllStar
TaxGuyBill
Level 15

Any pertinent educational credits or deductions usually go on the parents' return.

Any taxable scholarships go on the student's return.

IRonMaN
Level 15

In case we were wavering, I'll cast one more vote for the parent's return just so we can call this mystery officially solved.


Slava Ukraini!

This mystery was solved way too quickly,  I was hoping for Columbo to show up!

IRonMaN
Level 15

Just one more thing..............................


Slava Ukraini!
Taxprohere
Level 7

can I add the one more thing?

If at the higher income, the parents do not benefit from a tuition credit AND income beyond the $500 other dependent credit, or just partial phaseout credit, and the dependent student can benefit claiming the tuition credit, it can be claimed on the student's return.  Parents relinquish claim, though student is not and does not file as independent.  Do the comparison, if the ODC is less for the parents than what the reduction in tax is for the student.

 

😳  Okay, this was for hypothetical purposes.  Just saw the OP said student has no tax to pay.  Nevermind.

 

 

BobKamman
Level 15

@Taxprohere  Used to be, part of the tuition tax credit was refundable.  Haven't done one of those returns lately so maybe that was repealed when they needed to cut corporate taxes.  

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