Form 8863 - Education Credits (Hope And Lifetime Learning Credits) - 1998 Page 3
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Form 8863 (1998)
Page
Specific Instructions
Part II
Paperwork Reduction Act Notice.
Lifetime Learning Credit
We ask for the information on this
Part I
form to carry out the Internal
Line 4
Hope Credit
Revenue laws of the United States.
Complete columns (a) through (c) on
Line 1
You are required to give us the
line 4 for each student for whom
information. We need it to ensure
Complete columns (a) through (f) on
you are claiming the lifetime learning
that you are complying with these
line 1 for each student who qualifies
credit.
laws and to allow us to figure and
and for whom you elect to take the
Caution: You cannot claim the
collect the right amount of tax.
Hope credit.
lifetime learning credit for any
You are not required to provide
student for whom you are claiming
Column (a)
the information requested on a form
the Hope credit.
that is subject to the Paperwork
Enter the first name of the student
Reduction Act unless the form
above the dotted line, and enter the
Column (a)
displays a valid OMB control
student’s last name below the
Enter the first and last name of the
number. Books or records relating to
dotted line. Enter the name as
student as shown on page 1 of your
a form or its instructions must be
shown on page 1 of your tax return.
tax return.
retained as long as their contents
Column (b)
may become material in the
Column (b)
administration of any Internal
Enter the student’s social security
Enter the student’s social security
Revenue law. Generally, tax returns
number as shown on page 1 of your
number as shown on page 1 of your
and return information are
tax return.
tax return.
confidential, as required by Internal
Column (c)
Revenue Code section 6103.
Column (c)
The time needed to complete and
Enter only qualified expenses paid
Enter only qualified expenses paid
file this form will vary depending on
for the student in 1998 for academic
for the student after June 30, 1998
individual circumstances. The
periods beginning after 1997 but
(and before January 1, 1999), for
estimated average time is:
before April 1, 1999, as explained on
academic periods beginning after
page 3. If the student’s expenses
Recordkeeping
13 min.
June 30, 1998 (and before April 1,
are more than $2,000, enter $2,000.
Learning about the law or
1999).
the form
10 min.
Line 3
Line 7
Preparing the form
34 min.
This is the total Hope credit for all
This is the maximum lifetime
Copying, assembling, and
students shown on line 1.
learning credit you can claim for
sending the form to the
Note: If you have more than three
1998.
IRS
34 min.
students who qualify for the Hope
Note: If you are claiming the lifetime
If you have comments concerning
credit, wr ite “See attached” next to
learning credit for more than five
the accuracy of these time
line 1 and attach a statement with
students, write “See attached” next
estimates or suggestions for making
the required information for each
to line 4 and attach a statement with
this form simpler, we would be
additional student. Include the totals
the required information for each
happy to hear from you. See the
from line 1, columns (d) and (f) for all
additional student. Include the totals
instructions for the tax return with
students in the amount you enter in
from line 4, column (c), in the
which this form is filed.
columns (d) and (f) on line 2.
amount you enter on line 5.
Part III
Allowable Education Credits
The amount of your education
credits may be limited by the
amount of your adjusted gross
income or the amount of tax you
owe. Part III figures these limits.
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