Hal_Al
Level 15

Education

You're not eligible for a stimulus check, because you are your parent's dependent.

 

You did not receive a "1040" from the school. You probably received a form 1098-T.  Give that form to them, so they can claim the tuition credit.

 

You do not need to file a tax return, if those scholarships were your "income".  You need more than $12,200 of income before you need to file.

 

Make your parents aware that there is a tax “loophole” available. The student reports all his scholarship, up to the amount needed to claim the American opportunity credit, as income on his return (if he even needs to file). That way, the parents  can claim the tuition credit on their return. They can do this because that much tuition was no longer paid by "tax free" scholarship.  You cannot do this if the school’s billing statement specifically shows the scholarships being applied to tuition or if the conditions of the grant are that it be used to pay for qualified expenses.

Using an example: Student has $6,000 in box 5 of the 1098-T and $4000 in box 1. At first glance he/she has $2000 of taxable income and nobody can claim the American opportunity credit. But if she treats $6000 as income, the parents can claim $4000 of qualified expenses on their return.  Since the $6000 is less than the $12,200 filing requirement, she doesn't actually have to file a tax return, but may want to do so just to "document" the income.