The 1098-T should be on your tax return since you are no longer a dependent. I don't know if anyone will be fined for this. You can use Form 1098-T on your return to possibly have an education credit that will reduce the taxes owed or give a larger refund.
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 info 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).
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