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Free Forms Courtesy of FreeTaxUSA.com Prepare, Print, and E-File Your Federal Tax Return for FREE!! Go to www.FreeTaxUSA.com to start your free return today! Form 8917 Tuition and Fees Deduction See.

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If your modified adjusted gross income (MAGI) is more than $80,000 (or $160,000 if you're filing jointly), you can't use Form 8917. If you were a non-resident alien for all or part of the year and didn't elect non-resident alien tax status, you can't use Form 8917.

IRS Form 8917 and Form 8863 both deal with education expenses. Form 8917 offers a tax deduction called the Tuition and Fees Deduction, while Form 8863 offers two tax credits. ... If all or part of the tax credit is refundable and you're eligible for tax credits that exceed your tax liability, you'll get a bigger refund.

Form 8917 or 8863 Both the forms mentioned above are about educational expenses. However, 8917 offers tuition and fees deduction while 8863 provides tax credits. Using the latter, you can file for tax credits which are the American Opportunity Tax Credit and the Lifetime Learning Credit.

If you plan on claiming one of the IRS educational tax credits, be sure to fill out a Form 8863 and attach it to your tax return. These credits can provide a dollar-for-dollar reduction in the amount of tax you owe at the end of the year for the costs you incur to attend school.

The deduction for tuition and fees is not available for the 2019 tax year. ... You can't claim the tax break if your income is higher than a certain threshold either. If your modified adjusted gross income is above $80,000 (or above $160,000 for joint filers), you can't qualify for the deduction.

For most people, either the American opportunity credit or the lifetime learning credit will offer greater income tax savings. ... The lifetime learning credit offers a credit of 20 percent of up to $10,000 in expenses, for a maximum credit of $2,000. The tuition and fees deduction allows you to deduct $4,000.

The tuition and fees deduction, on the other hand, is subtracted from your taxable income. Your tax will be lower, but not dollar-for-dollar like a credit. Bottom line, it's generally better to use a tax credit than a deduction, but do your math to get your personal bottom line. Your mileage may vary.

Tuition deduction limitations The IRS doesn't let you deduct every dollar you pay in tuition, nor is it available to all taxpayers. Form 8917 puts a limit on your annual deduction, which is $4,000 for the 2019 tax year. If you pay more than this, the excess is not deductible and cannot be used in a future tax year.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232