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My parents pay the portion of my tuition that is not covered by a scholarship. They do not claim me as a dependent. Should I claim my 1098-T form on my taxes?
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My parents pay the portion of my tuition that is not covered by a scholarship. They do not claim me as a dependent. Should I claim my 1098-T form on my taxes?
Yes. If they don't claim you as a dependent they cannot claim Educational Credits on you either. Please note this link to IRS Publication 970 that deals with Education Credits: Can You Claim the Credit? (Answer applies to both school credits).
Because of IRS rules, you will report expenses paid by your parents as being paid by a third party. The IRS treats these payments as having been made by you. Thus you, and only you, can claim Educational Credits if you are not a dependent on your parent's return, so you will want to enter your 1098-T information into TurboTax for this purpose.
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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My parents pay the portion of my tuition that is not covered by a scholarship. They do not claim me as a dependent. Should I claim my 1098-T form on my taxes?
Yes. If they don't claim you as a dependent they cannot claim Educational Credits on you either. Please note this link to IRS Publication 970 that deals with Education Credits: Can You Claim the Credit? (Answer applies to both school credits).
Because of IRS rules, you will report expenses paid by your parents as being paid by a third party. The IRS treats these payments as having been made by you. Thus you, and only you, can claim Educational Credits if you are not a dependent on your parent's return, so you will want to enter your 1098-T information into TurboTax for this purpose.
**Mark the post that answers your question by clicking on "Mark as Best Answer"