Can I file taxes without a W-2 form? I am a student and only received a 1098T form.

[Hal_Al]

Simple answer: No.

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 full time unmarried 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 usually must have actually paid tuition, not had it paid by scholarships & grants.  It is usually best if the parent claims that credit. 

You cannot claim a credit if you are, or can be, claimed as a dependent by someone else.

But, If you are a student, over age 23, and are not claimed as a dependent by someone else (e.g. your parent) you may be eligible for the up to $1000 refundable American Opportunity (tuition) Credit. That credit is not dependent on having either kids or earned income. You must be at least a half time undergraduate student and actually paid tuition (not just had it paid by grants). Tuition paid by loans counts as paid by you (since you have to pay that back, someday)

If the amount in box 5, of your 1098-T, exceeds the amount in box 1, by more than $12,200, you may have taxable income you need to report.

[MayaD]

If the 1098-T has an amount in Box 5 that is more than what the school received as payments, you may need to report the excess as income. However, if you are a dependent on someone else's return, such as your parents, they will report the form on their return.

[MizLaTee]

This is my question.  I am filling out the tax form for my thirty year old graduate (YAY!) who is off celebrating her graduation.  All I have here is the 1098 T.  Box 5 shows an amount that is less than the amount in Box 1.

Do I file using Form 1040?  If so, where does this information for 1098 T go?

Thank you,

Shawn

[Hal_Al]

Q.  If so, where does this information for 1098 T go?

A. Probably nowhere, if that is all she has. 

The 1098-T is only an informational document. The numbers on it are not required to be entered onto your tax return. However receipt of a 1098-T frequently means you (or your student, if she is not a dependent) are either eligible for a tuition credit or possibly your student has taxable scholarship income. 

If you claim the tuition credit, you do need to report that you got one (the TurboTax interview will handle this).

The box 5 scholarship amount is not taxable, or reportable because it; less than box 1.  So the next question is: is she (or you) eligible for the refundable tuition credit?

The answer is no, if you or she have claimed the American Opportunity Credit (AOC) on her undergrad education 4 times in the past (there is a 4 times limit). If you haven't, the subtext question is why not; it's very generous. 

If you haven't claimed it 4 times, somebody can claim it now.  Is she you dependent for 2024?  Was she half time or more. Was she an undergrad (did she get a bachelor's degree in 2024)? How much is in boxes 1 & 5?  Any other expense, books and a computer? Room & board don't count.