Do I have to file 1098-T for taxes?
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I'm a full-time student and I work a part-time job. My parents do not pay for any of my college and they don't support me in any way. I pay for my clothes, food, bills, gas, etc. etc. With that being said, do I HAVE to file a 1098-T with my taxes for school? What happens if I file a 1040EZ without it? It seems kinda screwy because I have a full ride scholarship that pays for tuition, fees, room, board, and books, plus a little pocket change. Although it's nice going to school for free, room/board and the extra money gets taxed and I think i might end up owing money (which I don't have since it's all basically used up). What to do?
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Answer:
If you have a scholarship that provides your tuition, fees, room and board, etc, you have nothing to deduct. You are not taxed on the value of the scholarship. There would be no impact on your taxes. Go ahead and file a 1040EZ, as long as you meet the other criteria for using the simplified form.
I_M_Mela... at Yahoo! Answers Visit the source
Other answers
YOU do not FILE a 1098-T. It is given to you by your school to list the amount of tuition and fees that you paid. You use it to calculate the amount of YOUR TAX CREDIT on lines 49 and 66 of the 1040. IT CAN GIVE YOU A BIGGER REFUND. go to irs.gov get the 1040 instructions. read the damn thing. You are in college. You should know how to do this for yourself.
Pat
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