Thank you so much.
1. I have read an article on the IRS forums that if scholarships cover all tuition amount parent do not need to report education in there Tax return because he will not get education tax credit anyways. Said this author did not explain to readers: if this happens do parents need to put 1098-T in there return even they do not claim education, do they need to put all other numbers like how much was spent on the books and materials and in what stores, do they need to mention how much was spent on non-educational needs like travel and e.t.c., do they need to other other scholarships. I selected "no" everywhere in my Education part of Deductions only because:
a) I am not sure if I should to do this when I do not need to claim education in my return at all in the case of the full coverage, and I did not find any specific notes and recommendations. This situation, when student gets full scholarship and everything is covered, is not thoroughly explained.
b) I have a problem with putting any numbers into the boxes, as I said earlier, because Turbotax does not give this opportunity setting property of those box numbers to Read-Only, which means it shows me only preloaded numbers, and I have no control over it in Turbotax, I have to go to hard copy of the 1040 form to put $4000 into box1.
So here is the question:
Should I put 1098-T info and all numbers in my return, answer "yes" on higher education question, even though my daughter will do the same on hers? Wouldn't it to be double reporting? I simply do not know this, sorry. Now she has to pay to both - Federal and State, I do not pay them. If I put everything to my return are we going to pay together double, or numbers in my return get disregarded as soon as I have no education tax credit?
I have noticed one thing - as I already said I did not put any info about 1098-T form into daughter's preparation during Turbotax interview, but Turbotax knew all info and all numbers.
Now I answered "no" on having 1098-T in my return, do not put any data related to this form, but Turbotax still knows about it, there is no magic in the world - all data must be kept somewhere on the cloud, otherwise I do not have any explanation. 🙂
