Hello. I have some questions regarding my daughter’s scholarship income. Since she used most of the scholarships to pay her R&B, we (parents) are hoping to claim educational credit. Here’s some information:
3rd year undergrad, single
1098-T Box 1: 7,000, Box 5: 10,000
Paid R&B: 8,000
W2 income (part-time job): $12,000
After entering all the amounts to TT, and the Form 8615 is generated. I understand this is taxable scholarship because the income exceeds the standard deduction, I guess.
In the Part 2 of Form 8615, there’re some fields to enter parent’s taxable income, but TT didn’t prompt for these details, so they remain blank. Can we leave them blank or should we manually input the parent’s income information?
