Filing taxes as a dependent student, what do i need?

Question

k im a freshman in college and i recieved scholarships and grants which covered my tuition, i recieved some money from the school that was leftover..

this is my first time filing taxes and i dont know what i need to do.
Can anyone tell me what forms i might need and what i have to claim on the tax forms. i live with my mom, and didnt have a job in 2006. do i have to claim all the money including tuition, or only the amount i recieved that was extra, which i mostly used for school related expenses.

Thanks

Answer 1

Are you under 24 and a full time student? If so your mother can claim you as her dependent. Otherwise, you file for your own return and claims yourself.

On the question whether any portion of your scholarships or grants are taxable: If your scholarships and grants exceeded the fee & tuition that the money were intended then you will need to report the left over as income. For example, if the scholarship was designated for tuition only the amount left after paying your tuition is taxable even if you had use the left over for books. Some schools will issue a 1098-T to let you know what part of your scholarship is taxable.

Best wishes.

Answer 2

Sounds like you would qualify for the free tax return at VITA. Go to IRS.gov and search for VITA.

They can do both your federal and state return.

Only taxable scholarships and grants are included in income. Most likely the taxable portion would only be those funds which were not used for qualified education expenses or required you to work in exchange for the money.

Most likely you cannot claim a personal exemption as your mom would be able to claim you as a dependent child.

Answer 3

You received scholarships and grants which were used for school-related expenses. You have no taxable income and are not required to file.

Answer 4

examine the W-2 varieties for any employment which you had in 2009. in case you had federal and/or state taxes taken out of your pay, then that's probable properly worth your jointly as to document. in spite of while you're considered a based on your father's return. looking on your income point you ought to probable get maximum if no longer all the tax funds returned.