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orob
New Member

I finished undergrad and started grad school in '16. My parents/financial aid paid for undergrad, not grad school. How do I use 1098-T information for my own taxes?

My parents are claiming me as a dependent for the last time since I was financially dependent on them until August or September 2016. I am paying for my graduate school, though. I filled out the 1098-T information for my grad school and then Turbotax asked me if I went to any other schools in 2016. I don't think I should fill out my 1098-T information for my undergrad school (even though I have that 1098-T form) since I did not pay for that part of my schooling. Do I just answer "no," and say that I didn't attend any other schools in 2016?
1 Reply
Phillip1
New Member

I finished undergrad and started grad school in '16. My parents/financial aid paid for undergrad, not grad school. How do I use 1098-T information for my own taxes?

Unfortunately, the education credits or the tuition and fees deduction can only be claimed with the student's exemption. Since your parents are claiming you as a dependent, they are the only taxpayer's that are entitled to claim any education tax breaks. Technically, the can claim the expenses that you paid this year as well for the education credit that they claim on their return:

See the following from IRS Publication 970

Who Can Claim the Credit?

Generally, you can claim the American opportunity credit if all three of the following requirements are met.

  • You pay qualified education expenses of higher education.
  • You pay the education expenses for an eligible student.
  • The eligible student is either yourself, your spouse, or a dependent for whom you claim an exemption on your tax return.

Note.

Qualified education expenses paid by a dependent for whom you claim an exemption, or by a third party for that dependent, are considered paid by you.


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