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New Member
posted May 12, 2024 1:55:17 AM

How do I fill out Form 8863?

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1 Replies
Level 15
May 12, 2024 4:32:22 AM

TurboTax does that for you, if you qualify for a tuition credit.

In TurboTax (TT), enter at:

Federal Taxes Tab (Personal for H&B version)

Deductions & Credits

“I’ll choose what I want to work on” button

-Scroll down to:

--Education

  --Education Expenses and Scholarships (1098-T)

 

There's a new urban myth among college students that says they can get a $1000 from the government just for filing a tax form. For most of them, they simply aren't eligible. A full time unmarried student, under age 24, even if you don't qualify as a dependent, is only eligible for the refundable portion of the American Opportunity Credit if he supports himself by working. You cannot be supporting yourself on parental support, 529 plans or student loans & grants. It is usually best if the parent claims that credit. 

You cannot claim a credit if you are, or can be, claimed as a dependent by someone else.

 

Reference: Line 7 instructions for form 8863. https://www.irs.gov/instructions/i8863