Get Form8863.pdf - Form 8863 Department Of The Treasury ...

Filling out Form 8863 can help you claim important education credits to assist with the costs of higher education. This guide provides clear, step-by-step instructions to support users in navigating the form online, ensuring that everyone can access available educational benefits.

Follow the steps to complete your Form 8863 accurately.

1. Click ‘Get Form’ button to obtain the form and open it in the editor.
2. Review the form to identify the sections that require your information. The form is divided into two main parts: Part I for the refundable American opportunity credit and Part II for the nonrefundable lifetime learning credit.
3. Start with Part I. Enter the amount of qualified education expenses paid for each eligible student. Use the Adjusted Qualified Education Expenses Worksheet if applicable to calculate adjusted expenses.
4. Provide your modified adjusted gross income (MAGI) in the designated field, ensuring that it reflects your total income accurately.
5. Fill out the information regarding your educational institution, including its employer identification number (EIN), if claiming the American opportunity credit.
6. In Part II, provide adjusted qualified education expenses for the lifetime learning credit, remembering to check that no expenses from the same student overlap with the previous section.
7. Review all fields for accuracy and completeness before moving forward. Double-check your calculations to ensure you claim the correct credit amounts.
8. Once all sections are filled out, save your changes. You can then choose to download, print, or share the completed form as necessary.

Complete your Form 8863 online today to take advantage of these valuable education credits!