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New Member
posted Feb 4, 2020 2:39:40 PM

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.

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2 Replies
Level 15
Feb 4, 2020 2:52:48 PM

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.

Expert Alumni
Feb 4, 2020 2:58:03 PM

 

 

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