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Your parents.
The taxpayer that claims the student's exemption reports the 1098-T and applies for an education credit.
If there is more tax-free assistance than education expenses, the student might need to claim taxable income for the excess.
Your parents.
The taxpayer that claims the student's exemption reports the 1098-T and applies for an education credit.
If there is more tax-free assistance than education expenses, the student might need to claim taxable income for the excess.
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