Can I file my 1098-T even though my mom claimed as dependent on her taxes?

Grant Money - Questions & Answers

Can I file my 1098-T even though my mom claimed as dependent on her taxes?

Postby fontaine » Thu Feb 03, 2011 2:31 am

I asked this ques. ealier but wanted to make it clearer...
My mom already filed her taxes and filed me as dependent (I live with her). But i got my 1098-T and wanted to file my OWN taxes because I owe taxes on the pell grant i received ( i used some of it on me...like $2,000) I did not pay out of pocket neither did my mom, therefore we wont be getting credits or deductions. I also worked part time and my total withholding was $10.
i really dont want to file, but do i have to? How do i use this 1098-T form when my mom wont ammend her tax return... (she doesnt want to pay extra)

Can I use it myself? if so how?

because I think i might owe.....

Should I just go to H & R Block with my W-2 and 1098-T??

help?
fontaine
 
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Can I file my 1098-T even though my mom claimed as dependent on her taxes?

Postby oved97 » Thu Feb 03, 2011 2:33 am

I asked this ques. ealier but wanted to make it clearer...
My mom already filed her taxes and filed me as dependent (I live with her). But i got my 1098-T and wanted to file my OWN taxes because I owe taxes on the pell grant i received ( i used some of it on me...like $2,000) I did not pay out of pocket neither did my mom, therefore we wont be getting credits or deductions. I also worked part time and my total withholding was $10.
i really dont want to file, but do i have to? How do i use this 1098-T form when my mom wont ammend her tax return... (she doesnt want to pay extra)

Can I use it myself? if so how?

because I think i might owe.....

Should I just go to H & R Block with my W-2 and 1098-T??

help?
It depends on who PAID for the expenses. If your mom paid for it, then she has the right to claim it and you cannot.
oved97
 
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Can I file my 1098-T even though my mom claimed as dependent on her taxes?

Postby mathers » Thu Feb 03, 2011 2:35 am

If you are dependent (which you are), then you CANNOT claim any education credit. Only the person who supports you can claim that credit. If you tried, it would be rejected.
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Can I file my 1098-T even though my mom claimed as dependent on her taxes?

Postby deependu87 » Thu Feb 03, 2011 2:40 am

If the total of the Pell grant amount that YOU got (the $2000 or so) plus any other income you had through the year is over $5700, then yes you have to file. If the total is below that, you don't have to, but that's the only way to get your $10 back.

Since it's money YOU got back it's taxable income to YOU, not to your mom. If you had an education credit coming, which you don't, she'd get it since you're her dependent.
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Can I file my 1098-T even though my mom claimed as dependent on her taxes?

Postby brit » Thu Feb 03, 2011 2:42 am

You CANNOT use the 1098-T. You can only use the 1098-T if you are NOT a dependent.

Your mom may be able to use it by filing an amended return. If your tuition was paid for by one of the following then she can still use the 1098-T The list of eligible payment types is:

In payment for services, such as wages(if she worked as a teacher at the school and your tuition was part of her benefits)
A student loan or other line of credit
A gift from someone else
A withdrawal from your savings
An inheritance.
She would need to subtract any other payment types from the amount she claimed.

As for her not wanting to pay more...If she used an online filing tool she should be able to check the amount of credit she would get from it without actually sending in the return. Would she pay 20 dollars extra if the addition to her refund was another two grand? Using the American Opportunity Credit got me an extra 2,500...which I would consider well worth dealing with an amended refund. As long as she gets it in before 04/15 she won't have to pay any IRS fees or penalties, only whatever her tax person charges her to refile.
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Can I file my 1098-T even though my mom claimed as dependent on her taxes?

Postby woolsey » Thu Feb 03, 2011 2:44 am

You CANNOT use the 1098-T. You can only use the 1098-T if you are NOT a dependent.

Your mom may be able to use it by filing an amended return. If your tuition was paid for by one of the following then she can still use the 1098-T The list of eligible payment types is:

In payment for services, such as wages(if she worked as a teacher at the school and your tuition was part of her benefits)
A student loan or other line of credit
A gift from someone else
A withdrawal from your savings
An inheritance.
She would need to subtract any other payment types from the amount she claimed.

As for her not wanting to pay more...If she used an online filing tool she should be able to check the amount of credit she would get from it without actually sending in the return. Would she pay 20 dollars extra if the addition to her refund was another two grand? Using the American Opportunity Credit got me an extra 2,500...which I would consider well worth dealing with an amended refund. As long as she gets it in before 04/15 she won't have to pay any IRS fees or penalties, only whatever her tax person charges her to refile.
You cannot claim any of the benefits for the education expense or tax credits since you are a qualifying child dependent of your mother on her correctly completed 1040 income tax return.
Your mother would be the only one that might be able to qualify for any of the possible qualified amounts that might be available to her if the all of the rules are met for this purpose
Hope that you find the above enclosed information useful and good luck to you.
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Can I file my 1098-T even though my mom claimed as dependent on her taxes?

Postby constantino » Thu Feb 03, 2011 2:50 am

Just to emphasize. If any part of the PELL grant was NOT spent on tuition, it's taxable income to you. Your mom's return wouldn't be affected because there was $0 tuition paid from either your or her funds.

If the Pell grant was LESS than the tuition, then mom gets the 1098-T to see if she can claim an education credit.

If the tuition was paid with grants, NO ONE is getting a credit.
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