I filed my 2018 taxes and then get a 1098-T for my son listing $162.80 in boxes 1/5. He has no reportable income and is a dependent on my taxes. Do I have to amend?

[chjamespatterson]

Shortly after I filed my 2018 taxes, my son gets a 1098-T in the mail from the local college.  He is listed on my tax forms as my dependent.  He does not have reportable income to report.  Box 1 of the form (payments received for qualified tuition and related expenses) says $162.90.  Box 5 (scholarships or grants) says $162.90.  Since I itemized and my son is listed as my dependent, do I have to refile an amended tax form, or do I not do nothing since the amount is well below the dollar amount where he or I would have to report it?

[KrisD · Accepted solution]

No. You do not need to file an amended return because the amount he got as a scholarship (162.90) is the same as his education expenses (162.90). there is nothing to report. 

You do have the option of using the 162.90 towards an education credit. Weather you would be eligible or what the credit would be worth is hard to say. It wouldn't be much unless he had other expenses to add to it. 

CLICK HERE for IRS Pub 970 Tax Benefits for Education