<p>Here's my situation. Freshman daughter received need based grant for total cost of attendance ($6313 - tuition and $6300- room/board, books, transportation, living expenses). No monies were paid by parents for any college expenses, but daughter is considered a dependent. My understanding is that tuition is not taxable, but everything else except books ($500) is taxable, so $5800. Daughter had no income for 2013. Questions- 1) Who files the 1098t? Student or parent? 2) 1098t form has grant money for entire 2013-2014 school year. Do the amounts need to be reduced to one semester, or just go with what's on the statement? 3) Do education tax credits come into play here?
This is all so confusing. Thank you.</p>
<p>Student files 1098t. Head over to the financial aid forum for the rest of your questions.</p>