Who claims the 1098T form student or parent is student is under 24 but was enrolled full time in a graduate program

Forum|Forum|7 years ago
June 5, 2019
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JohnW15

Level 10

If you have qualified education expenses for you during a tax year, either you, or whoever is claiming you as a dependent, but not both of you, can claim an American opportunity credit or lifetime learning credit for your expenses for that year.

If someone claims you as an exemption on their tax return, then only they are able to claim the credit based on your expenses. They would treat any expenses paid (or deemed paid) by you as if they had paid them themselves. They would include these expenses when figuring the amount of your credit. And you, as her dependent, wouldn’t be able to claim the credit.

If no one else claims you as an exemption, then only you can claim credit, and your parent can't claim the credit based on your expenses.

Since it’s possible that your parents may be able to claim you as an exemption, you should coordinate with them to see what their plans are. The TurboTax FAQ below describes generally the qualifications for claiming someone as a dependent.

https://ttlc.intuit.com/replies/5187060

When considering claiming an education credit based on your expenses, bear in mind that the American Opportunity Tax Credit can be claimed for only 4 tax years, while the Lifetime Learning Credit has no such restriction.