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College student first time filer

My daughter is 20-years-old and will be filing her taxes for the first time for the 2022 tax year.  In previous years, she received scholarships, but not enough to be considered taxable income (we think).  Being that she receives the following, what is the best form for her to use, when filing and what will she need to list as taxable income:

 

- national VA benefit (chapter 35)

- Florida state VA benefit (tuition coverage)

- two scholarships from non-profit organizations

- scholarships from the state university she attends

- income from a part-time/full-time job

 

Thank you for your time and assistance!

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5 Replies
drc845443
Employee Tax Expert

College student first time filer

Hello Blue Thorness,

Your daughter should file her own Form 1040.

For her income from her job, she will get a W2 which she will use to report the income when preparing the Form 1040.

 

Generally, any VA benefits are not taxable and should not be reported as income on the tax return.

 

As a student, she should receive a Form 1098T reporting any tuition, scholarships and other education related expenses. In most cases, the parent will file the form 1098T on the parent's tax return unless the student provided for more than 50% of their own support. Please refer to the following resource for additional clarification:

 

https://ttlc.intuit.com/community/college-education/discussion/do-both-me-and-my-child-enter-informa...

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College student first time filer

The IRS only has Form 1040 and Form 1040-SR for taxpayers who are age 65 or older so your daughter will file Form 1040.

 

You can start with the TurboTax Free Edition. If you need an upgrade, TurboTax will ask you to upgrade within the programme.

 

VA benefits are not taxable.

 

Scholarships are not taxable unless they exceed the cost of your qualified educational expenses. You must include in gross income:

  • Amounts used for incidental expenses, such as room and board, travel, and optional equipment.
  • Amounts received as payments for teaching, research, or other services required as a condition for receiving the scholarship or fellowship grant. 

Topic No. 421 Scholarships, Fellowship Grants, and Other Grants

 

The 2022 standard deduction for single filers is $12,950. It’s possible your daughter may not have to file a return. You can start for free in TurboTax Online. If you are not required to file, you can clear your data and not finish the process.

College student first time filer

The IRS only has Form 1040 and Form 1040-SR for taxpayers who are age 65 or older so your daughter will file Form 1040.

 

You can start with the TurboTax Free Edition. If you need an upgrade, TurboTax will ask you to upgrade within the programme.

 

VA benefits are not taxable.

 

Scholarships are not taxable unless they exceed the cost of your qualified educational expenses.You must include in gross income:

  • Amounts used for incidental expenses, such as room and board, travel, and optional equipment.
  • Amounts received as payments for teaching, research, or other services required as a condition for receiving the scholarship or fellowship grant. 

Topic No. 421 Scholarships, Fellowship Grants, and Other Grants

 

The 2022 standard deduction for single filers is $12,950. It’s possible your daughter may not have to file a return. You can start for free in TurboTax Online. If you are not required to file, you can clear your data and not finish the process.

College student first time filer

One other thing----even if your daughter files a tax return, since she is a full-time student YOU can still claim her as a dependent on your own tax return.   When she prepares her tax return she needs to make sure that in My Info she indicates that she can be claimed as a dependent on someone else's return.  Since you can claim her, the education credits go on your return.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

College student first time filer

Thank you for adding this information! Am I correct in understanding that she will put her job income and scholarship income on her tax form, but I will just claim her as a dependent?

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