Enlarge image | Education Credits OMB No. 1545-0074 Form 8863 (American Opportunity and Lifetime Learning Credits) Department of the Treasury Attach to Form 1040 or 1040-SR. 2024 Attachment Internal Revenue Service Go to www.irs.gov/Form8863 for instructions and the latest information. Sequence No. 50 Name(s) shown on return Your social security number Complete a separate Part III on page 2 for each student for whom you’re claiming either credit before you ▲! complete Parts I and II. CAUTION Part I Refundable American Opportunity Credit 1 After completing Part III for each student, enter the total of all amounts from all Parts III, line 30 . . 1 2 Enter: $180,000 if married filing jointly; $90,000 if single, head of household, or qualifying surviving spouse . . . . . . . . . . . . . . . . 2 3 Enter the amount from Form 1040 or 1040-SR, line 11. But if you’re filing Form 2555 or 4563, or you’re excluding income from Puerto Rico, see Pub. 970 for the amount to enter instead . . . . . . . . . . . . . . . . . 3 4 Subtract line 3 from line 2. If zero or less, stop; you can’t take any education credit . . . . . . . . . . . . . . . . . . . . . . . . 4 5 Enter: $20,000 if married filing jointly; $10,000 if single, head of household, or qualifying surviving spouse . . . . . . . . . . . . . . . . . 5 6 If line 4 is: • Equal to or more than line 5, enter 1.000 on line 6 . . . . . . . . . . . . . • Less than line 5, divide line 4 by line 5. Enter the result as a decimal (rounded to at least . . . 6 . three places) . . . . . . . . . . . . . . . . . . . . . . . . . } 7 Multiply line 1 by line 6. Caution: If you were under age 24 at the end of the year and meet the conditions described in the instructions, you can’t take the refundable American opportunity credit; skip line 8, enter the amount from line 7 on line 9, and check this box . . . . . . . . . . 7 8 Refundable American opportunity credit. Multiply line 7 by 40% (0.40). Enter the amount here and on Form 1040 or 1040-SR, line 29. Then go to line 9 below. . . . . . . . . . . . . . . 8 Part II Nonrefundable Education Credits 9 Subtract line 8 from line 7. Enter here and on line 2 of the Credit Limit Worksheet (see instructions) . 9 10 After completing Part III for each student, enter the total of all amounts from all Parts III, line 31. If zero, skip lines 11 through 17, enter -0- on line 18, and go to line 19 . . . . . . . . . . . 10 11 Enter the smaller of line 10 or $10,000 . . . . . . . . . . . . . . . . . . . . . 11 12 Multiply line 11 by 20% (0.20) . . . . . . . . . . . . . . . . . . . . . . . . 12 13 Enter: $180,000 if married filing jointly; $90,000 if single, head of household, or qualifying surviving spouse . . . . . . . . . . . . . . . . . 13 14 Enter the amount from Form 1040 or 1040-SR, line 11. But if you’re filing Form 2555 or 4563, or you’re excluding income from Puerto Rico, see Pub. 970 for the amount to enter instead . . . . . . . . . . . . . . . . . 14 15 Subtract line 14 from line 13. If zero or less, skip lines 16 and 17, enter -0- on line 18, and go to line 19 . . . . . . . . . . . . . . . . . 15 16 Enter: $20,000 if married filing jointly; $10,000 if single, head of household, or qualifying surviving spouse . . . . . . . . . . . . . . . . . 16 17 If line 15 is: • Equal to or more than line 16, enter 1.000 on line 17 and go to line 18 . . . . . . • Less than line 16, divide line 15 by line 16. Enter the result as a decimal (rounded to at . . . 17 . least three places) . . . . . . . . . . . . . . . . . . . . . . . } 18 Multiply line 12 by line 17. Enter here and on line 1 of the Credit Limit Worksheet (see instructions) . 18 19 Nonrefundable education credits. Enter the amount from line 7 of the Credit Limit Worksheet (see instructions) here and on Schedule 3 (Form 1040), line 3 . . . . . . . . . . . . . . . 19 For Paperwork Reduction Act Notice, see your tax return instructions. Cat. No. 25379M Form 8863 (2024) |
Enlarge image | Form 8863 (2024) Page 2 Name(s) shown on return Your social security number Complete Part III for each student for whom you’re claiming either the American opportunity credit or lifetime ▲! learning credit. Use additional copies of page 2 as needed for each student. CAUTION Part III Student and Educational Institution Information. See instructions. 20 Student name (as shown on page 1 of your tax return) 21 Student social security number (as shown on page 1 of your tax return) 22 Educational institution information (see instructions) a. Name of first educational institution b. Name of second educational institution (if any) (1) Address. Number and street (or P.O. box). City, town or (1) Address. Number and street (or P.O. box). City, town or post office, state, and ZIP code. If a foreign address, see post office, state, and ZIP code. If a foreign address, see instructions. instructions. (2) Did the student receive Form 1098-T (2) Did the student receive Form 1098-T from this institution for 2024? Yes No from this institution for 2024? Yes No (3) Did the student receive Form 1098-T (3) Did the student receive Form 1098-T from this institution for 2023 with box Yes No from this institution for 2023 with box Yes No 7 checked? 7 checked? (4) Enter the institution’s employer identification number (EIN) (4) Enter the institution’s employer identification number (EIN) if you’re claiming the American opportunity credit or if you if you’re claiming the American opportunity credit or if you checked “Yes” in (2 ) or ( ).3 You can get the EIN from Form checked “Yes” in (2 ) or (3 ). You can get the EIN from Form 1098-T or from the institution. 1098-T or from the institution. – – 23 Has the American opportunity credit been claimed for this student for any 4 prior tax years? Yes — Stop! Go to line 31 for this student. No — Go to line 24. 24 Was the student enrolled at least half-time for at least one academic period that began or is treated as having begun in 2024 at an eligible educational institution in a program No — Stop! Go to line 31 leading towards a postsecondary degree, certificate, or Yes — Go to line 25. for this student. other recognized postsecondary educational credential? See instructions. 25 Did the student complete the first 4 years of postsecondary education before 2024? See instructions. Yes — Stop! Go to line 31 for this student. No — Go to line 26. 26 Was the student convicted, before the end of 2024, of a felony for possession or distribution of a controlled Yes — Stop! No — Complete lines 27 Go to line 31 for this student. through 30 for this student. substance? You can’t take the American opportunity credit and the lifetime learning credit for the same student in the same ▲! year. If you complete lines 27 through 30 for this student, don’t complete line 31. CAUTION American Opportunity Credit 27 Adjusted qualified education expenses (see instructions). Don’t enter more than $4,000 . . . . 27 28 Subtract $2,000 from line 27. If zero or less, enter -0- . . . . . . . . . . . . . . . . 28 29 Multiply line 28 by 25% (0.25) . . . . . . . . . . . . . . . . . . . . . . . . 29 30 If line 28 is zero, enter the amount from line 27. Otherwise, add $2,000 to the amount on line 29 and enter the result. Skip line 31. Include the total of all amounts from all Parts III, line 30, on Part I, line 1 30 Lifetime Learning Credit 31 Adjusted qualified education expenses (see instructions). Include the total of all amounts from all Parts III, line 31, on Part II, line 10 . . . . . . . . . . . . . . . . . . . . . . . 31 Form 8863 (2024) |