- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
1098-T - Whose return should it apply to? Parent or child?
I am a parent.
- I have a child <24 years old
- Child is a full-time undergrad student and has not graduated yet
- Child has earned income on a W-2 of $9700
- Child has unearned income of $1650 from (1099-INT and 1099-DIV)
- Child has unearned income of $4500 investment income (1099-B)
- I (parent) have claimed the child as a dependent, and the child has reflected the same on their return.
- I (parent) do not qualify for any credits because of MAGI
- The child has received a 1098-T form from the college.
- Box 1 has $52,000. ($33000 was paid by the parent)
- Box 5 has $19,000. The $19000 was a credit received for being an RA.
- $15000 out of the $19000 was a credit for Room and Dining.
- $4000 was a tuition credit.
- When I file the 1098-T as a parent, my tax burden does not increase. However, if I file the 1098-T under the child's return, the tax burden goes up by $3000+.
My question is, whose return should the 1098-T be included? Parent or Child?
‎April 14, 2025
11:27 AM