So I basically get more money than I need from my scholarships and grants. So do I need to file the amount of money that I have left over after paying for tuition and fees on a tax return or can my parents (who claim me as a dependent) file for it through education credit- since we get a 1080-T form. I do not have any other source of income and am a commuter.
Start with the 1098T form. If box 5 (scholarships and grants) is more than box 2 (qualified tuition and fees paid), then you might have taxable scholarships to report.
If you had book expenses, you can deduct them from scholarships as well, before you determine the taxable amount.
You would report them on your tax return, not your parents’.
If your parents claim you as a dependent, then they might qualify to claim an education credit, American Opportunity tax credit (AOTC), if they paid for qualified education expenses (tuition, fees, books) that weren’t covered by tax-free scholarships.
Did you have income from a job in 2018 as well?
Have your parents done their 2018 tax return yet? Yesterday was tax day.
Did they file for an extension?