Form 8863-K - Education Tuition Tax Credit
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1*0600020026*
2006
8863-K
42A740-S24
K
ENTUCKY
Department of Revenue
E
T
T
C
➤ ➤ ➤ ➤ ➤ Attach to Form 740 or Form 740-NP.
DUCATION
UITION
AX
REDIT
Enter name(s) as shown on Form 740 or Form 740-NP , page 1.
Your Social Security Number
Note: If you are ONLY claiming a credit carryforward from 2005, complete only Parts IV and V.
PART I—Qualifications (You cannot take the 2006 Kentucky Education Tuition Credit if you are not eligible for the federal education credits.)
Yes
No
Answer the questions below to determine your eligibility for the Kentucky Education Tuition Tax Credit.
•
Are any expenses claimed in Part I or Part II of federal Form 8863 from an eligible Kentucky
educational institution located within the Commonwealth of Kentucky (Kentucky Institution)? ............................
•
Are any of the expenses claimed on federal Form 8863 for undergraduate studies? .............................................
•
Is your Kentucky filing status single; married filing separately on a combined return;
or married filing a joint return? .....................................................................................................................................
If you answered “No” to any of these questions above, STOP you do not qualify for this credit. If you answered “Yes” to all
questions above, go to Part II.
PART II—Hope Credit (List only expenses from Kentucky institutions.)
(c) Name and Address of
(d) Qualified
(e) Tentative Hope Credit
(a) Student Name
(b) Student SSN
1.
Kentucky Institution
Expenses
(See Federal Instructions)
2. Tentative Hope Credit. Add amounts on line 1, column (e) and enter here .................................. 2
PART III—Lifetime Learning Credit (List only expenses for undergraduate studies at Kentucky institutions.)
(d) Qualified Expenses
(a) Student Name
(b) Student SSN
(c) Name and Address of Kentucky Institution
(See Federal Instructions)
3.
4. Add the amounts on line 3, column (d) and enter total here .......................................................... 4
5. Enter the smaller of line 4 or $10,000 ............................................................................................... 5
6. Tentative Lifetime Learning Credit. Multiply line 5 by 20% (.20) and enter here .......................... 6
PART IV—Credit Carryforward from Prior Year(s)
Note: If you do not have an unused credit from prior year(s) continue to Part V.
7. Enter your credit carryforward from 2005 ........................................................................................ 7
8. Enter tentative tax from page 1, line 22 of Form 740 or 740-NP ..................................................... 8
9. Unused 2005 credit carryforward to 2007. Subtract line 8 from line 7. If zero or less enter -0- ... 9
PART V—Allowable Education Credits
10. Tentative education credits. Add line 2 and line 6 ........................................................................... 10
11. Enter decimal amount from federal Form 8863, line 12 .................................................................. 11
Note: You CANNOT take this credit if you were forced to stop on line 10 of federal
Form 8863. If federal Form 8863, line 12, is blank, skip line 11 and enter amount
from line 10 on line 12 and continue to line 13.
12. Multiply line 10 by the decimal amount on line 11 and enter here ................................................ 12
13. Multiply amount on line 12 by 25% (.25) and enter total here ........................................................ 13
14. Enter tentative tax from page 1, line 22 of Form 740 or 740-NP ..................................................... 14
15. Enter the smaller of line 7 or line 8 ................................................................................................... 15
16. Subtract line 15 from line 14 .............................................................................................................. 16
17. Enter the smaller of line 16 or line 13 ............................................................................................... 17
18. Add line 15 and line 17 , enter here and on Form 740, line 23. This is your
allowable 2006 education credit ........................................................................................................ 18
19. If line 16 is smaller than line 13, subtract line 16 from line 13, this is amount of unused
credit carryforward from 2006 to 2007 ............................................................................................. 19
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