<p>Does the 1099-T that the college gives supposed to be used on the parent's tax form or on the student's tax form?</p>
<p>It can be claimed on either the parents or the child’s tax form, but if it is on the parents taxes, it must also be listed/referenced on the tax form of the recipient/student. My son has it listed on his tax form but we are claiming the 1099-T income on our taxes and are paying any taxes.</p>
<p>where on the student’s 1040 should it be listed or referenced?</p>
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<p>If the 1098-T is being used for tuiotion credits or deductions, it must be on the return which uses the student for an exenption. So if the parents claim the student, that’s where it goes. If the scholarships exceed the qualified tuition and part becomes taxable, the income must be claimed on the return of the student. The parents cannot put the income on their return, nor would they want to. The student’s rate would most likely be much lower.</p>
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If the qualified tuition is more than the scholarships, it would be used for the Hope or Lifetime Learning Credit. If the scholarships are taxable, it goes on line 7.</p>
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<p>how can we tell if the scholarships are taxable?</p>
<p>wait - I see a possible answer from a prev poster…</p>
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<p>if the scholarship exceeds the tuition, we can assume that part is taxable. if it does not exceed tuition, we can assume it is completely used up in tuition and therefore is not taxable.</p>
<p>Correct…</p>