topic Can i file my own 1098-T form? in Education

Can i file my own 1098-T form?

aron4 — Fri, 31 Jan 2025 02:36:43 GMT

For clarification. I am a college student and I'm am being claimed as a dependent by my parent. I pay my own college tuition out of pocket and with my loan through FAFSA. Am I allowed to claim the education credit since I'm paying for it and not my parent even though I'm a dependent?

Re: Can i file my own 1098-T form?

KrisD15 — Fri, 31 Jan 2025 02:40:14 GMT

If you are a dependent, and your parents claim you, only they can apply for an education credit using your 1098-T.

IRS Pub 970

Re: Can i file my own 1098-T form?

Hal_Al — Fri, 31 Jan 2025 12:38:34 GMT

There's a new urban myth among college students that says they can get a $1000 from the government just for filing a tax form. For most of them, they simply aren't eligible. A full time unmarried student, under age 24, even if you don't qualify as a dependent, is only eligible for the refundable portion of the American Opportunity Credit if he supports himself by working. You cannot be supporting yourself on parental support, 529 plans or student loans & grants. It is usually best if the parent claims that credit. It's usually worth $2500 to them. They are allowed to claim it, even if you were the one who paid.

You cannot claim the (up to) $1000 refundable credit if you are, or can be, claimed as a dependent by someone else.

Reference: Line 7 instructions for form 8863.

https://www.irs.gov/instructions/i8863#en_US_2024_publink53002gd0e674

https://www.irs.gov/instructions/i8863