will having my parents claim my 1098-T tax credits lower my chances of finantial aid next year?
I was wondering, as I am filing my taxes separately from my parents as a dependent. They will be claiming my hope tax credit from the 1098-T from my college. Even if they get a bigger return than I would if I were to file, will their filing the 1098 negatively impact my financial aid award?
No. Financial aid is based upon gross income, not tax credits.
Even if you are a dependent, you must file your tax return if your income exceeds the filing requirements. Also even if you are not required to file and have a refund, you should file to get the refund. If someone can claim you dependent, then you can not claim your own exemption. If you are a dependent, then your parents can claim 1098-T credit or deduction. Read about the filing requirements of a dependent:
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