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If I am a full-time graduate student in NY state and have no income for 2024, do I need to file taxes this year?

 
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3 Replies

If I am a full-time graduate student in NY state and have no income for 2024, do I need to file taxes this year?

If you have no income you don’t have to file since there is nothing to report. 

pk
Level 15
Level 15

If I am a full-time graduate student in NY state and have no income for 2024, do I need to file taxes this year?

@schroepferjennifer , absent other requirements for filing, I do  not see why  with zero income  from any sources ( world wide )  you would need to file a  federal tax return.

I must be missing something because  your question implies something that is  behind.

Hal_Al
Level 15

If I am a full-time graduate student in NY state and have no income for 2024, do I need to file taxes this year?

You may have heard of  a refundable education credit.  Technically, such a thing exists but it's mostly for the parents of students. Students under age 24 are mostly not eligible on their own. Grad students are not eligible except in the year they received their BA/BS.  You are not eligible if you are or can be claimed as a dependent. 

 

Scholarships that pay for qualified educational expenses (QEE - tuition, fees, books and other course materials) is tax free.  Scholarship amounts that exceed QEE is taxable income, on the student’s tax return. Room & board are not QEE.

If box 5 of the 1098-T exceeds box 1, TurboTax (TT) will treat the difference as taxable income, unless you enter additional QEE at books and other expenses.

If you have no other income, you do not have to file for taxable scholarship unless the amount is over $14,600. 

 

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