Federal Free Printable 2016 Form 8863 for 2017 Federal Education Credits (American Opportunity and Lifetime Learning Credits)

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Education Credits (American Opportunity and Lifetime Learning Credits)
2016 Form 8863

Form 8863 Department of the Treasury Internal Revenue Service (99) Education Credits (American Opportunity and Lifetime Learning Credits) ▶ OMB No. 1545-0074 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 2 After completing Part III for each student, enter the total of all amounts from all Parts III, line 30 Enter: $180,000 if married filing jointly; $90,000 if single, head of household, or qualifying widow(er) . . . . . . . . . . . . . 2 3 Enter the amount from Form 1040, line 38, or Form 1040A, line 22. If you're filing Form 2555, 2555-EZ, or 4563, or you're excluding income from Puerto Rico, see Pub. 970 for the amount to enter . . . . . . 3 Subtract line 3 from line 2. If zero or less, stop; you can't take any education credit . . . . . . . . . . . . . . . . . . . 4 Enter: $20,000 if married filing jointly; $10,000 if single, head of household, or qualifying widow(er) . . . . . . . . . . . . . . . . . 5 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) . . . . . . . . . . . . . . . . . . . . . 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 } . . 1 . . . 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 . . . . ▶ Refundable American opportunity credit. Multiply line 7 by 40% (0.40). Enter the amount here and on Form 1040, line 68, or Form 1040A, line 44. Then go to line 9 below. . . . . . . . . . Part II Attachment Sequence No. 50 Your social security number Name(s) shown on return ! ▲ 2016 ▶ Attach to Form 1040 or Form 1040A. Information about Form 8863 and its separate instructions is at www.irs.gov/form8863. 6 . 7 8 Nonrefundable Education Credits Subtract line 8 from line 7. Enter here and on line 2 of the Credit Limit Worksheet (see instructions) 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 . . . . . . . . . . Enter the smaller of line 10 or $10,000 . . . . . . . . . . . . . . . . . . . . Multiply line 11 by 20% (0.20) . . . . . . . . . . . . . . . . . . . . . . . Enter: $131,000 if married filing jointly; $65,000 if single, head of household, or qualifying widow(er) . . . . . . . . . . . . . 13 Enter the amount from Form 1040, line 38, or Form 1040A, line 22. If you're filing Form 2555, 2555-EZ, or 4563, or you're excluding income from Puerto Rico, see Pub. 970 for the amount to enter . . . . . . . . 14 Subtract line 14 from line 13. If zero or less, skip lines 16 and 17, enter -0on line 18, and go to line 19 . . . . . . . . . . . . . . . 15 Enter: $20,000 if married filing jointly; $10,000 if single, head of household, or qualifying widow(er) . . . . . . . . . . . . . . . . . 16 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) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Multiply line 12 by line 17. Enter here and on line 1 of the Credit Limit Worksheet (see instructions) ▶ Nonrefundable education credits. Enter the amount from line 7 of the Credit Limit Worksheet (see instructions) here and on Form 1040, line 50, or Form 1040A, line 33 . . . . . . . . . . For Paperwork Reduction Act Notice, see your tax return instructions. Cat. No. 25379M 9 10 11 12 17 18 19 . Form 8863 (2016) Page 2 Form 8863 (2016) Your social security number Name(s) shown on return ! ▲ 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. 20 Student name (as shown on page 1 of your tax return) 22 21 Student social security number (as shown on page 1 of your tax return) 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 post office, state, and ZIP code. If a foreign address, see instructions. (1) Address. Number and street (or P.O. box). City, town or post office, state, and ZIP code. If a foreign address, see instructions. (2) Did the student receive Form 1098-T (2) Did the student receive Form 1098-T Yes No Yes No from this institution for 2016? from this institution for 2016? (3) Did the student receive Form 1098-T (3) Did the student receive Form 1098-T from this institution for 2015 with box Yes No from this institution for 2015 with box Yes No 2 filled in and box 7 checked? 2 filled in and box 7 checked? If you checked “No” in both (2) and (3), skip (4). If you checked “No” in both (2) and (3), skip (4). (4) If you checked “Yes” in (2) or (3), enter the institution's (4) If you checked “Yes” in (2) or (3), enter the institution's federal identification number (from Form 1098-T). federal identification number (from Form 1098-T). – – 23 24 25 26 Has the Hope Scholarship Credit or American opportunity credit been claimed for this student for any 4 tax years before 2016? Yes — Stop! Go to line 31 for this student. Was the student enrolled at least half-time for at least one academic period that began or is treated as having begun in 2016 at an eligible educational institution in a program leading towards a postsecondary degree, certificate, or other recognized postsecondary educational credential? See instructions. Yes — Go to line 25. No — Go to line 24. No — Stop! Go to line 31 for this student. Did the student complete the first 4 years of postsecondary education before 2016? See instructions. Yes — Stop! Go to line 31 for this student. No — Go to line 26. Was the student convicted, before the end of 2016, 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. ! ▲ CAUTION 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. American Opportunity Credit 27 28 29 30 Adjusted qualified education expenses (see instructions). Don't enter more than $4,000 . . . . . Subtract $2,000 from line 27. If zero or less, enter -0- . . . . . . . . . . . . . . . . . Multiply line 28 by 25% (0.25) . . . . . . . . . . . . . . . . . . . . . . . . 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 . 27 28 29 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 (2016)
Extracted from PDF file 2016-federal-form-8863.pdf, last modified November 2016

More about the Federal Form 8863 Individual Income Tax Tax Credit TY 2016

We last updated the Education Credits (American Opportunity and Lifetime Learning Credits) in January 2017, so this is the latest version of Form 8863, fully updated for tax year 2016. You can download or print current or past-year PDFs of Form 8863 directly from TaxFormFinder. You can print other Federal tax forms here.

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Form Sources:

The Internal Revenue Service usually releases income tax forms for the current tax year between October and January, although changes to some forms can come even later. We last updated Federal Form 8863 from the Internal Revenue Service in January 2017.

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Form 8863 is a Federal Individual Income Tax form. States often have dozens of even hundreds of various tax credits, which, unlike deductions, provide a dollar-for-dollar reduction of tax liability. Some common tax credits apply to many taxpayers, while others only apply to extremely specific situations. In most cases, you will have to provide evidence to show that you are eligible for the tax credit, and calculate the amount of the credit to which you are entitled.

About the Individual Income Tax

The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.

Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!

Historical Past-Year Versions of Federal Form 8863

We have a total of six past-year versions of Form 8863 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2016 Form 8863

2016 Form 8863

Education Credits (American Opportunity and Lifetime Learning Credits) 2015 Form 8863

2015 Form 8863

Education Credits (American Opportunity and Lifetime Learning Credits) 2014 Form 8863

2014 Form 8863

Education Credits (American Opportunity and Lifetime Learning Credits) 2013 Form 8863

2013 Form 8863

Education Credits (American Opportunity and Lifetime Learning Credits) 2012 Form 8863

2012 Form 8863

Education Credits (American Opportunity and Lifetime Learning Credits) 2011 Form 8863

2011 Form 8863


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