Student tax question?

Question

I was a dependent and my father included form 1098t in his 2018 taxes. Scholarships exceeded qualified expenses by 4,614.46 and my income was 1600 for that year. I didn't file because I thought I didn't have to file if I didn't earn 12,200. Now I know singles who are also dependents have other requirements. I need to submit fafsa again but no longer can be claimed as a dependent. Fafsa needs my 2018 taxes, which I didn't file. I will try to file my 2018 taxes now. Did I make a mistake by not filing? Will I be fined? Since my father already included 1098t in his taxes, does that mean I don't have to include them when I file?

Slickterp · Answer

1098T doesn't go with yours, it goes with his since you were a dependent.

You will be fine, as you owe nothing.

NA · Answer

If dad claimed the education credit, then that $4000 is also treated as your income.  But $1600 + $4000 + $4614 = $10,214, which is below $12,000 cutoff for 2018.

FAFSA does know there are cases where you are below the filing requirement.

Eva · Answer

How could your father include the 1098T on his taxes when there were no qualified expenses? When your scholarships exceed the expenses, there is nothing to claim on. You should have claimed the excess on your tax return. Read the IRS publication on educational expenses as the calculations can be quite complex.  If you aren't required to file, you simply check that box on the FAFSA. You can get a letter of non-filing from the IRS if you need one.

Shay · Answer

You can still file.

You do not do anything with the 1098T.

You will only be fined if you owed more taxes.  If you get a refund then you won't be fined.

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Student tax question?

4 Answers