Form 8863 - Education Credits (Hope And Lifetime Learning Credits) - 1998
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38863
OMB No. 1545-1618
Education Credits
Form
1998
(Hope and Lifetime Learning Credits)
Department of the Treasury
Attachment
See instructions on pages 3 and 4.
Attach to Form 1040 or Form 1040A.
51
Sequence No.
Internal Revenue Service
Name(s) shown on return
Your social security number
Part I
Hope Credit
(c) Qualified
1
(d) Enter the
expenses
(b) Student’s
smaller of the
(e) Subtract
(f) Enter one-half
(but do not
(a) Name of student
social security
enter more than
amount in
column (d) from
of the amount in
$2,000 for each
number
column (c) or
column (c)
column (e)
student). See
$1,000
First, Last
instructions
2
2
Add the amounts in columns (d) and (f)
3
Add the amounts on line 2, columns (d) and (f)
3
Part II
Lifetime Learning Credit
(c) Qualified
4
(b) Student’s
expenses (after
(a) Name of student
social security
June 30, 1998).
Caution: You
number
First
Last
See instructions
cannot take the
Hope credit and
the lifetime learning
credit for the same
student.
5
5
Add the amounts on line 4, column (c) and enter the total
6
6
Enter the smaller of line 5 or $5,000
7
Multiply line 6 by 20% (.20)
7
Part III
Allowable Education Credits
8
8
Add lines 3 and 7
9
Enter: $100,000 if married filing jointly; $50,000 if single, head of
9
household, or qualifying widow(er)
10
10
Enter the amount from Form 1040, line 34 (or Form 1040A, line 19)*
11
Subtract line 10 from line 9. If line 10 is equal to or more than line
11
9, stop; you cannot take any education credits
12
Enter: $20,000 if married filing jointly; $10,000 if single, head of
12
household, or qualifying widow(er)
13
If line 11 is equal to or more than line 12, enter the amount from line 8 on line 14 and
go to line 15. If line 11 is less than line 12, divide line 11 by line 12. Enter the result as
13
.
a decimal (rounded to at least three places)
14
14
Multiply line 8 by line 13
15
15
Enter your tax from Form 1040, line 40 (or Form 1040A, line 25)
16
Enter the total, if any, of your credits from Form 1040, lines 41 and 42 (or from
16
Form 1040A, lines 26 and 27)
17
Subtract line 16 from line 15. If line 16 is equal to or more than line 15, stop; you cannot
17
take any education credits
18 Education credits. Enter the smaller of line 14 or line 17 here and on Form 1040,
line 44 (or Form 1040A, line 29)
18
*See Pub. 970 for the amount to enter if you are filing Form 2555, 2555-EZ, or 4563 or you are excluding income from Puerto Rico.
8863
For Paperwork Reduction Act Notice, see page 4.
Cat. No. 25379M
Form
(1998)
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