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red1191x
New Member

The Earned Income Credit makes my tax liability a zero. I can take the American Opportunity Credit, limited to $1000. How do I fill out Part I of Form 8863 to show that?

 
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red1191x
New Member

The Earned Income Credit makes my tax liability a zero. I can take the American Opportunity Credit, limited to $1000. How do I fill out Part I of Form 8863 to show that?

I figured it out, line 27 is limited to $4000, I hadn't realized that.

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2 Replies
red1191x
New Member

The Earned Income Credit makes my tax liability a zero. I can take the American Opportunity Credit, limited to $1000. How do I fill out Part I of Form 8863 to show that?

I figured it out, line 27 is limited to $4000, I hadn't realized that.

Hal_Al
Level 15

The Earned Income Credit makes my tax liability a zero. I can take the American Opportunity Credit, limited to $1000. How do I fill out Part I of Form 8863 to show that?

It doesn't work that way.  The EIC is a refundable credit and comes after  your tax liability has been reduced to zero.

The non refundable portion (up to $1500) of the American Opportunity Credit is applied to your tax liability and the $1000 refundable comes later

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