KrisD15
Expert Alumni

Education

HERE is a link that explains how to file an amended return using TurboTax. 

 

For your daughter's amended return, revisit the "Personal Info" and select "Yes, someone else can claim me" "Yes, someone else will claim me"

For the reason you are amended, indicate "Change to dependent"

If she claimed the interest and she doesn't have any income, delete that entry and put it on your return. 

If you entered the Form 1098-T on her return, you can delete that form as well, but it won't matter since once she indicates that she is a dependent, the education credit (American Opportunity Tax Credit) will be eliminated. 

Most likely she will owe 1,000 to pay back that credit.  

 

For your amended return, claim your daughter as your dependent. 

DO NOT ENTER FORM 1099-Q since it was used for Room and Board. If it was already entered, delete it. 

(Keep it with your tax file and write "Paid Room and Board" on it.)

Enter her 1098-T and claim an education credit on your return. 

 

Either you or your daughter can claim the interest paid on the student loans since either you paid and you claim the interest or you gifted your daughter and she paid the interest. Take it on the return that is most likely to benefit. If your daughter has no tax liability, you claim the interest.  

 

She most likely will need to pay and you most likely will get an additional refund. 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post