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gabbyturner01
New Member

My son attends community college. Lives with mom. I claim on my taxes. Received a 1098 T . Do I need to include on my tax return? That is financial aid money.

 
2 Replies
macuser_22
Level 15

My son attends community college. Lives with mom. I claim on my taxes. Received a 1098 T . Do I need to include on my tax return? That is financial aid money.

If yiu claim him as a dependent then you can claim the tuition that *you* paid yourself.   Any scholarship in box 5 the student must claim on the students own tax return if it was more then the box 1 tuition.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
LinaJ2020
Employee Tax Expert

My son attends community college. Lives with mom. I claim on my taxes. Received a 1098 T . Do I need to include on my tax return? That is financial aid money.

 

 

If you did not pay any out of pocket on qualified education expenses like tuition, books and fees, you do not need to report the Form 1098-T.  You only report this form when you pay out of pocket and want to claim an education tax benefit. On the Form 1098-T, is the number in box 1 equals to that in box 5?  You would want to report if box 1 is greater than box 5 ( Paid tuition amount is greater than the grant/scholarship amount)

 

@gabbyturner01

 

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