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Education
As indicated by our awesome Tax Expert @AliciaP1 a Form 1098-T is not necessary. Research your payments for tuition and make sure you have any grant or scholarship information you received. Once you have your numbers together you can include the education expense on your tax return. Keep all the documents together with your tax return should you need them for verification in the future.
Helpful details:
If the parent is claiming the student as a dependent on their (the parents) income tax return, then the parent enters the 1098-T Tuition form on their (the parents) income tax return.
Before you enter the 1098-T form, here's some important information you need to know:
- If the student on the 1098-T is your dependent, enter the 1098-T on your return, even if your dependent paid the tuition.
- If the student on the 1098-T is you, and you're not being claimed as a dependent, enter the 1098-T on your return unless your employer paid for or reimbursed your tuition (in which case, just keep the 1098-T with your tax records).
If you need to wait to gather your information, you can always file your return, then amend when you have all the information you need.
[Edited: 02/11/2022 | 12:11p PST]
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