Filing 1098-T as a dependent who pays the tuition

[bkerchal970]

I am still "eligible" to be claimed as a dependent by my parents due to being 22 yrs old. I pay my own tuition and I want to know why my parents should receive the benefit of my return when I'm the one funding my education. How do I go about filing the 1098-T when this is the case? Do I have them not claim me as a dependent so I can report the tuition as my own or do they still have to file the 1098-T on their taxes because I'm still under the age limit? I appreciate the help on this!

[freeextensionfor]

If your parents pay more than 50% of your living expenses and you are a full-time student they may be able to claim you as a dependent and claim your tuition expenses which would lower their tax penalty if they are in a higher tax bracket than you.  However, if you are earning enough to benefit from the deduction yourself then you can take it.  You should look at who gets the bigger tax benefit and decide how you want to handle it.