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Scholarship exceed tuition but less than $6100, form 1098-T. Can I claim my son as dependent?, who claim education expenses? Does he need to file a return?
My son is 19 year old and he is a freshman in the University. He is receiving a scholarship that exceeds the tuition by $2185 for 2016 (after excluding books) but he didn't had any other taxable income during the year. Note: I paid for all his expenses.
These are my questions:
1) Does he needs to file a tax return by his own? I understand the $2185 will be taxable income, but it is less that $6100 required to file.
2) Should The parent file the 1098-T form?
3) Can I claim his as a dependent and apply deductions for his student expenses?
4) Will I be eligible for the American Opportunity Credit?
Thanks for any information you can provide
These are my questions:
1) Does he needs to file a tax return by his own? I understand the $2185 will be taxable income, but it is less that $6100 required to file.
2) Should The parent file the 1098-T form?
3) Can I claim his as a dependent and apply deductions for his student expenses?
4) Will I be eligible for the American Opportunity Credit?
Thanks for any information you can provide
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May 31, 2019
8:14 PM