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Education
@bhr615 Do you have any unearned income like dividends and interest, capital gains?
Are you claimed as a dependent by your parents? Do they benefit from claiming any of the education tax credits like American Opportunity Tax Credit? Your parents can claim the 1098-T which depending on income levels they may qualify.
Do you have any scholarships that exceed your tuition, room & Board reported on the 1098-T?
If you have any income such as the above as a dependent over $1,050 you would still need to file.
There are ways where your parents if they qualify can claim the education expenses, while you report the income. A bit more advanced and depends on your and your parents circumstances.
**I don't work for TT. Just trying to help. All the best.
***Say "Thanks" by marking as BEST ANSWER and clicking the thumb icon in a post and that I solved your question
**Mark the post that answers your question by clicking on "Mark as Best Answer" I am NOT an expert and you should confirm with a tax expert.
***Say "Thanks" by marking as BEST ANSWER and clicking the thumb icon in a post and that I solved your question
**Mark the post that answers your question by clicking on "Mark as Best Answer" I am NOT an expert and you should confirm with a tax expert.
‎April 11, 2024
7:07 PM