1098-t tax cut program?

im having trouble with my 1098-t form that is my tax paper form for college. i am married, but my mom pays for my college, i have a place in my tax cut program where i can put that someone else paid for my college. but then it brings me up to a screen where i says that i qualify for a tax break and these estimated savings which are: hope credit for $1800, lifetime learning credit for $533 and tuition deduction for $397. am i doing this right. do i just not put it down and let my mom put it down in her taxes, i was still going to put it down in the box where it says someone else who paid for it and i put the amount of my tuition and let my mom put it down. help please?

1 Answer

  • 1 decade ago
    Favorite Answer

    Have a look at page 15 of I.R.S. Publication 970. If you are claimed as a dependent by your mother, she is eligible to claim the tax credit -- you are not. If you are not claimed as her dependent, she cannot claim the credit but you would be eligible to -- providing whoever claims the credit meets all the other eligibility criteria. You cannot claim more than one tax credit on the same qualified expenses, however.

    Although you can let tax cut do the figuring for you -- I would use publication 970 to help you fill out form 8863 on your own -- and based on your results, accept the tax cut info or adjust it to match what you've figured out.

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