I’m 20 years old,full time college student in 2018.My parents will claim me.I got W-2 wage earned $6380,and 1098-T Box1 $26900,Box5 $33500.So should I report 1098T?

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1 Best answer

Expert Alumni

Jun 4, 2019 5:31:45 PM

You should file your own tax return and report your form W-2 and the excess scholarship on form 1098-T ($33,500 - $26,900 = $6,600) as income.

You report the scholarship in the Education section under Expenses and Scholarships (form 1098-T) (see attached screenshot).

You need to indicate on your return that you can be claimed as a dependent by someone else.

Expert Alumni

Jun 4, 2019 5:31:45 PM

You should file your own tax return and report your form W-2 and the excess scholarship on form 1098-T ($33,500 - $26,900 = $6,600) as income.

You report the scholarship in the Education section under Expenses and Scholarships (form 1098-T) (see attached screenshot).

You need to indicate on your return that you can be claimed as a dependent by someone else.