Reply to "Scholarship dollars"

FutureBack.Mom1,000+ posts

stickwatcher ...

The student, if filing a tax return to declare his scholarship/grant money, cannot deduct his own "qualified" tuition and fees on his tax return if he is claimed as a dependent by his parents ... and that is from all the different instruction manuals that accompany the different tax filing forms.

In the fair state of the Left Coast, the parents (or whomever) don't even have to claim him as a dependent ... if he is "able" to be claimed by someone else as a dependent, he can not deduct his own educational expenses from his scholarship money.

It is a no-win situation for students who don't qualify for the various higher education tax credits ...

I may have read it wrong, but I don't think so. Check it out on the IRS website ...

4/1/042:40 PM

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