Form 8863 PDF Details

When you are filling out your tax return each year, there are many different forms that you will need to complete. One of the most important is Form 8863, which is used to calculate your education credits. This form can be a little confusing, so make sure you take your time and understand exactly what is required. The education credits can be a great way to reduce your tax bill, so don't miss out on this valuable deduction. If you have any questions, be sure to ask a tax professional for help.

If you would like first determine how much time you need to fill in the form 8863 and how many pages it's got, here's some detailed information that could be useful.

QuestionAnswer
Form NameForm 8863
Form Length2 pages
Fillable?Yes
Fillable fields1
Avg. time to fill out42 sec
Other names1040A, fillable form 8863, postsecondary, Winnebago

Form Preview Example

Form 8863

 

Education Credits

 

OMB No. 1545-0074

 

 

 

(American Opportunity and Lifetime Learning Credits)

 

 

 

 

 

 

2021

Department of the Treasury

 

Attach to Form 1040 or 1040-SR.

 

 

Go to www.irs.gov/Form8863 for instructions and the latest information.

 

 

Attachment

Internal Revenue Service (99)

 

 

 

 

 

 

Sequence No. 50

Name(s) shown on return

 

 

Your social security number

 

 

 

 

 

 

 

 

 

 

 

 

 

 

!

CAUTION

Part I

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.

Refundable American Opportunity Credit

1 After completing Part III for each student, enter the total of all amounts from all Parts III, line 30 . .

2Enter: $180,000 if married filing jointly; $90,000 if single, head of household,

or qualifying widow(er)

. . . . . . . . . . . . . . . . . .

2

3Enter the amount from Form 1040 or 1040-SR, line 11. If you’re filing Form

2555 or 4563, or you’re excluding income from Puerto Rico, see Pub. 970 for

 

the amount to enter

3

4Subtract line 3 from line 2. If zero or less, stop; you can’t take any education

credit

4

5Enter: $20,000 if married filing jointly; $10,000 if single, head of household, or

 

qualifying widow(er)

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 three places)

 

7Multiply 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 . . . . . . . .

8Refundable 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. . . . . . . . . . . . . . .

Part II Nonrefundable Education Credits

1

6

7

8

.

9 Subtract line 8 from line 7. Enter here and on line 2 of the Credit Limit Worksheet (see instructions) .

9

10After 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

13Enter: $180,000 if married filing jointly; $90,000 if single, head of household, or

qualifying widow(er)

13

14Enter the amount from Form 1040 or 1040-SR, line 11. If you're filing Form 2555 or 4563, or you’re excluding income from Puerto Rico, see Pub. 970 for

the amount to enter

14

15Subtract 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 widow(er)

.

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 least three

 

 

 

places)

. . . . . . . .

 

17

.

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 (2021)

Form 8863 (2021)

Page 2

Name(s) shown on return

Your social security number

!

CAUTION

Part III

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.

Student and Educational Institution Information. See instructions.

20Student name (as shown on page 1 of your tax return)

21Student social security number (as shown on page 1 of your tax return)

22Educational 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

Yes

 

No

(2) Did the student receive Form 1098-T

Yes

No

 

from this institution for 2021?

 

 

 

 

 

from this institution for 2021?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(3) Did the student receive Form 1098-T

 

 

 

 

 

(3) Did the student receive Form 1098-T

 

 

 

 

 

 

from this institution for 2020 with box

Yes

 

No

 

from this institution for 2020 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

 

if you’re claiming the American opportunity credit or if you

 

(EIN) if you’re claiming the American opportunity credit or

 

checked “Yes” in (2) or (3). You can get the EIN from Form

 

if you checked “Yes” in (2) or (3). You can get the EIN

 

1098-T or from the institution.

 

 

 

 

 

 

 

 

 

from Form 1098-T or from the institution.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

23 Has the Hope Scholarship Credit or American opportunity

Yes — Stop!

 

 

 

 

 

 

 

 

 

 

credit been claimed

for this student for

any

4 tax years

No — Go to line 24.

 

Go to line 31 for this student.

 

before 2021?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

24 Was the student enrolled at least half-time for at least one

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

academic period that began or is treated as having begun in

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2021 at

 

an eligible

educational institution

in

a program

Yes — Go to line 25.

No — Stop! Go to line 31

leading

towards

a

postsecondary

degree,

certificate, or

 

 

 

 

 

 

 

 

 

 

 

 

for this student.

 

other recognized

postsecondary

educational

credential?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

See instructions.

25Did the student complete the first 4 years of postsecondary education before 2021? See instructions.

Yes — Stop!

Go to line 31 for this student.

No — Go to line 26.

26Was the student convicted, before the end of 2021, of a felony for possession or distribution of a controlled substance?

Yes — Stop!

Go to line 31 for this student.

No — Complete lines 27 through 30 for this student.

 

!

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

27Adjusted qualified education expenses (see instructions). Don’t enter more than $4,000 . . . . .

28

Subtract $2,000 from line 27. If zero or less, enter -0-

29

Multiply line 28 by 25% (0.25)

30If 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 .

Lifetime Learning Credit

27

28

29

30

31Adjusted 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 (2021)

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step 1 to filling out Washington

In the PartII, NonrefundableEducationCredits, Multiplylineby, and places box, put in writing the information you have.

part 2 to finishing Washington

Point out the main information on the CatNoM, and Form box.

Filling in Washington part 3

Take the time to record the rights and obligations of the sides within the FormNamesshownonreturn, Yoursocialsecuritynumber, Page, CAUTION, aNameoffirsteducationalinstitution, DidthestudentreceiveFormT, fromthisinstitutionfor, Yes, Yes, DidthestudentreceiveFormT, fromthisinstitutionfor, Yes, and Yes paragraph.

Washington FormNamesshownonreturn, Yoursocialsecuritynumber, Page, CAUTION, aNameoffirsteducationalinstitution, DidthestudentreceiveFormT, fromthisinstitutionfor, Yes, Yes, DidthestudentreceiveFormT, fromthisinstitutionfor, Yes, and Yes fields to insert

End up by looking at the following areas and completing them accordingly: educationbeforeSeeinstructions, felonysubstance, YesStopGotolineforthisstudent, NoGotoline, YesGotoline, NoStopGotolineforthisstudent, YesStopGotolineforthisstudent, YesStopGotolineforthisstudent, NoGotoline, CAUTION, AmericanOpportunityCredit, IIIlineonPartIIline, and Form.

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