dvn2
Returning Member

Retirement tax questions

I am a little confused so let me ask you a novice question and I hope you don't mine.

Our son made around $13000 last year (2021). What would be the most advantages for us in term of filing our income tax returns?  2 separate returns (1 for us and 1 for my son)?  He is between sophomore and junior year of college, lived at home with us, drives back and forth to a nearby college  (15 minutes drive) and we paid everything for him. Thank you in advance for being patience with me.

 

You said "If your son is eligible to be claimed by you but is not claimed by anyone, then he can take the American Opportunity Credit on his own return."  How does he do this using Turbo Tax?  Does he need to include the 1099Q and/or 1098T in this return?