topic Is there a form i have to wait for if my child receives financial aid? in Deductions & credits

Is there a form i have to wait for if my child receives financial aid?

amandasantillan — Tue, 03 Feb 2026 05:43:40 GMT

Re: Is there a form i have to wait for if my child receives financial aid?

DoninGA — Wed, 22 Jan 2025 18:29:52 GMT

State aid is not reported on tax return for either your or a dependent child.

Social Security benefits for the child are not reported on your tax return. If the child has no other income they do not report the benefits on a tax return.

What other financial aid are you referring to?

Re: Is there a form i have to wait for if my child receives financial aid?

Hal_Al — Wed, 22 Jan 2025 18:36:33 GMT

Q. Is there a form i have to wait for if my child receives financial aid?

A. Technically, No. However there is a form you need to wait for if your dependent child attends college or other post secondary schooling (regardless of whether financial aid is involved).

"Eligible Institutions" issue a form 1098-T to document tuition and fees paid and scholarships received.

The 1098-T is only an informational document. The numbers on it are not required to be entered onto your tax return. However receipt of a 1098-T frequently means you are either eligible for a tuition credit or possibly your student has taxable scholarship income.

If you claim the tuition credit, you do need to report that you got one.

Technically, you claim the tuition credit, or report scholarship income, based on your own financial records, not the 1098-T. But, the process goes much smoother if you have a 1098-T to enter.