<p>Hi! I am a bit late but filing a 1040EZ for my son, but all he has is a 1098T w/ no Income in box 1, but in box 2 "amounts billed for qualified tuition and related expenses"...the amt of which I assume is the value of his services for which he got free room and board but no actual pay. Box 4 says "adjustments made for prior year", and box 5 says "scholarships or grants"; each mentioned box had some $ amts, and everything else was "0.00". So, do we file an income tax for 2011 or not? I appreciate your help.</p>
<p>You might ask this in the financial aid forum. The experts are there.</p>
<p>If he is your dependent, than you handle his 1098T in your (parents) tax return.</p>
<p>He only need to file a tax return if he has income or excess scholarships.</p>
<p>You should see your tax person for more information.</p>
<p>What was the scholarship/grant number? What was the qualified expenses number? If the scholarship was MORE than the qualified expenses, it is taxable income for your son. What is that difference? Did he have other employment? What is his total income including any scholarship money that is not for allowable expenses?</p>
<p>Methods to fill out 1098-T forms vary widely. The one I received for D’s senior year spring semester was all zeros, despite the fact she was billed for Spring semester tuition and we paid that bill. You really need to have a sit-down discussion with your S if you hope to explain to the IRS why the amounts on the tax return(s) are correct.</p>