1098-T. I'm a college student who is classified as a dependent. This year to pay for school I took out student loans in my name so does that mean I can use the 1098-T given to me by my school?

[Hal_Al · Accepted solution]

No. the person(s) who claim you as a dependent use your 1098-T to claim a tuition deduction or credit on their return.

There's a new urban myth among college students that says they can get a $1000 from the government just for filing a tax form. For most of them, they simply aren't eligible. A student, under age 24, is only eligible for the refundable portion of the American Opportunity Credit if he supports himself by working. You cannot be supporting yourself on parental support, 529 plans or student loans & grants. You must have actually paid tuition, not had it paid by scholarships & grants.  It is usually best if the parent claims that credit.