<p>My mother filed as head of household and me as her dependent.</p>
<p>She had a tax preparer and my 1098 t form was given as one of the documents. I am listed a a qualifying child under her 1040a.</p>
<p>My box 5 scholarship grants exceeds box 2 billed for tuition on my 1098 t.</p>
<p>Should I file now, before it gets later?</p>
<p>I am unsure as to what her filing as head of household will apply to me.</p>
<p>Depends. If box 5 exceeds qualified tuition by more than $5,700, then you need to file a return and pay tax on it. If it’s less than that, and you had no other income, then because it’s considered earned income your standard deduction will be higher and you will have no taxable amount, and therefore, no tax liability and you don’t need to file.</p>
<p>If you have other income then it will get a little more complicated. If you give us a better idea of the numbers, we can be more specific as to whether you need to file.</p>
<p>Your mom claiming you just means that you can’t claim yourself. But you still get a standard deduction.</p>
<p>Thanks for the reply.</p>
<p>I have no other income and my grants - tuition billed - books is about 10,198. So that is the taxable amount?</p>
<p>I have asked this question in another forum and was replied with “You do not need to file. The 1098-T would be claimed on her tax return since you are her dependent.”</p>
<p>I am still unsure now.</p>
<p>deleted as I’m not sure I know what I’m talking about.</p>
<p>It is NOT claimed on your mother’s return whether she claims you or not.</p>
<p>I still don’t understand. What is the amount in box 5, what is the amount in box 2 and how much did you spend on books?</p>
<p>My box 5 grants total 15,863.25. Box 2 tuition billed is 5,241.40. My books totaled 423.85. So I believe the difference in total will be my taxable scholarship and grants.</p>
<p>I think I understand what the other person meant as claiming. So the tuition expense/credits/deductions will be given to my mother whereas the remainder 10,198 is my taxable income in which I have to file.</p>
<p>Right? Does anyone know what the federal penalties percentages are?</p>
<p>Thanks for the replies</p>
<p>The overage is taxable to the STUDENT not the parent and it doesn’t matter whether you are a dependent of hers or not. It also appears that the amount over tuition exceeds the number whereby you don’t have to file at all (which is in the $5000 range). So…I think you need to file.</p>
<p>You do need to file – you should do it right away. There WILL be a penalty for late filing (it was due on April 15) – but it won’t be that much, and it will just get worse as time goes on. (“Penalty” = extra money you have to pay – don’t freak out – just get things done as soon as possible).</p>
<p>The IRS is having open houses at its offices this Saturday and one other coming up. They will have folks to help answer questions about filing etc. You should look in your area for the nearest location and head there this Saturday.</p>
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There would be no tuition credit available for your mother because it was all paid for by scholarships or grants.</p>