Form 8863 - Education Credits (Hope And Lifetime Learning Credits) - 2000 Page 3
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Form 8863 (2000)
Page
qualified tuition for the 2001 winter
Lifetime Learning Credit
Note: If you are claiming the lifetime
quarter that begins in January 2001,
learning credit for more than five
The maximum lifetime learning credit
you can use that $2,000 in figuring
students, write “See attached” next
for 2000 is $1,000, regardless of the
your 2000 education credits (if you
to line 4 and attach a statement with
number of students. For the lifetime
meet all the other requirements).
the required infor mation for each
learning credit, you cannot use any
additional student. Include the totals
You cannot use any
qualified expenses of a student for
from line 4, column (c), in the
amount paid in 1999 or
whom you elect to take the Hope
amount you enter on line 5.
2001 to figure your 2000
credit.
education credits.
Part III
Specific Instructions
What Is an Eligible Educational
Allowable Education Credits
Institution?
The amount of your education
Part I
An eligible educational institution
credits may be limited by the
Hope Credit
is generally any accredited public,
amount of your modified adjusted
nonprofit, or proprietary (private)
gross income or the amount of tax
Line 1
college, university, vocational school,
you owe. Part III figures these limits.
or other postsecondary institution.
Complete columns (a) through (f) on
line 1 for each student who qualifies
Also, the institution must be eligible
Paperwork Reduction Act Notice.
to participate in a student aid
for and for whom you elect to take
We ask for the information on this
program administered by the
the Hope credit.
form to carry out the Internal
Department of Education. Virtually all
Revenue laws of the United States.
Column (a)
accredited postsecondary
You are required to give us the
Enter the first name of the student
institutions meet this definition.
information. We need it to ensure
above the dotted line, and enter the
that you are complying with these
student’s last name below the
Hope Credit
laws and to allow us to figure and
dotted line.
collect the right amount of tax.
You may be able to claim a credit of
You are not required to provide
up to $1,500 for qualified expenses
Column (c)
the information requested on a form
(defined earlier) paid for each
Enter only qualified expenses paid
that is subject to the Paperwork
student who qualifies for the Hope
for the student in 2000 for academic
Reduction Act unless the form
credit. You can claim the Hope
periods beginning after 1999 but
displays a valid OMB control
credit for a student only if all five of
before April 1, 2001, as explained on
number. Books or records relating to
the following apply.
page 2. If the student’s expenses
a form or its instructions must be
1. As of the beginning of 2000,
are more than $2,000, enter $2,000.
retained as long as their contents
the student had not completed the
Note: If you have more than three
may become material in the
first 2 years of postsecondary
students who qualify for the Hope
administration of any Internal
education (generally, the freshman
credit, write “See attached” next to
Revenue law. Generally, tax returns
and sophomore years of college), as
line 1 and attach a statement with
and return information are
determined by the eligible
the required information for each
confidential, as required by Internal
educational institution. For this
additional student. Include the totals
Revenue Code section 6103.
purpose, do not include academic
from line 1, columns (d) and (f), for
The time needed to complete and
credit awarded solely because of the
all students in the amount you enter
file this form will vary depending on
student’s performance on
in columns (d) and (f) on line 2.
individual circumstances. The
proficiency examinations.
estimated average time is:
2. The student was enrolled in
Part II
Recordkeeping, 13 min.; Learning
2000 in a program that leads to a
Lifetime Learning Credit
about the law or the form, 10 min.;
degree, certificate, or other
Preparing the form, 34 min.;
recognized educational credential.
Line 4
Copying, assembling, and sending
3. The student was taking at least
Complete columns (a) through (c) for
the form to the IRS, 34 min.
one-half the normal full-time
each student for whom you are
If you have comments concerning
workload for his or her course of
claiming the lifetime learning credit.
the accuracy of these time
study for at least one academic
You cannot claim the
estimates or suggestions for making
period beginning in 2000.
lifetime learning credit for
this form simpler, we would be
4. The Hope credit was not
any student for whom you
happy to hear from you. See the
claimed for that student’s expenses
are claiming the Hope
instructions for the tax return with
for both 1998 and 1999.
credit.
which this form is filed.
5. The student has not been
Column (c)
convicted of a felony for possessing
or distributing a controlled substance.
Enter only qualified expenses paid
for the student in 2000 for academic
If a student does not meet all five
periods beginning after 1999 but
of the above qualifications, you may
before April 1, 2001, as explained on
be able to take the lifetime learning
page 2.
credit for part or all of that student’s
qualified expenses instead.
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