For Paperwork Reduction Act Notice see your tax return instructions. Cat. No. 25379M Form 8863 2018 Page 2 Complete Part III for each student for whom you re claiming either the American opportunity credit or lifetime learning credit. Form Department of the Treasury Internal Revenue Service 99 Education Credits American Opportunity and Lifetime Learning Credits OMB No. 1545-0074 Attach to Form 1040. Go to www.irs.gov/Form8863 for instructions and the latest information. Attachment Sequence...
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Who needs the Form 8863?

Form 8863 is the United States Internal Revenue Service form that should be filled out by taxpayers to figure out and claim their education credits. Logically, this form, Education Credits (American Opportunity and Lifetime Learning Credit), can be used for claiming the American opportunity credit, the Lifetime Learning credit, or both. Part of the American Opportunity Credit may be refundable while the Lifetime Learning Credit is not. This means that a refundable credit can give the taxpayer a refund regardless of whether they owe any tax and are required to file a tax return, or not. A non-refundable credit can reduce the amount of their tax, but any excess amount will not be refunded.

What is the Education Credits Form 8863 for?

The form should be filed if the taxpayers, their spouse or dependent (indicated on the tax return) was enrolled at, or attending, an eligible educational institution as a student.

Is the IRS 8863 Form accompanied by any other forms?

The Form 8863 is to be filed as an accompaniment to the individual income tax return. It is not meant to be submitted separately.

When is the Form 8863 due?

So far as the Education Credits form is submitted with Form 1040 or equivalent, it is expected on the 15th day of the fourth month after the end of the reported tax year.

How to fill out the Form 8863?

The completed form is to give the following information:

  • Name and SSN of the taxpayer;
  • Financial details of the American Opportunity Credit (Part 1);
  • Details of the nonrefundable education credits (Part 2);
  • Information about the student and educational institution (Part 3).

Where to send the filled out form?

The completed Education Credit Form 8863 must be directed to the local office of the Internal Revenue Service.

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Instructions and Help about 8863 form

Laws calm legal forms guide form 88 63 is a United States Internal Revenue Service tax form used for claiming available education credits this form can be used for claiming the American Opportunity Credit the Lifetime Learning credit or both the form 88 63 can be obtained through the IRS a--'s website or by obtaining the documents through a local tax office first fill out your name and social security number at the top of the form ensure that you are not also claiming the tuition and fees deduction with these tax credits you may only claim one type for each tax year in part 1 list all students names that you are claiming the American Opportunity Credit for for each student supply their social security number qualified expenses up to $4,000 - $2,000 in the next column multiplied by 25% which will result in the total tax credit amount for each student add each tax credit amount for each student to get a total American Opportunity Credit amount go to part 2 if you're claiming a lifetime learning tax credit for a different student than named in part 1 do not claim both for the same student supply each student's name in part 2 state each student's social security number and qualified expenses from the text year add the total amount of lifetime credit expenses to calculate your total expenses on line 4 enter the smaller of line 4 or $10,000 this is your lifetime learning tax credit amount in part 3 you must enter additional information about your tax credits enter your tax return information on line 7 through 13 following the instructions state your refundable American Opportunity Credit amount on line 14 in part 4 again enter all of your tax return information as stated on each line when completed you must state your non-refundable education credits on line 23 this total on line 23 is to be used on your 1040 to claim your education tax credits to watch more videos please make sure to visit laws comm