Form 8863 - Education Credits (Hope And Lifetime Learning Credits) - 2004
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38863
OMB No. 1545-1618
Education Credits
2004
Form
(Hope and Lifetime Learning Credits)
See instructions.
Department of the Treasury
Attachment
50
Attach to Form 1040 or Form 1040A.
Internal Revenue Service
(99)
Sequence No.
Name(s) shown on return
Your social security number
Caution: You cannot take both an education credit and the tuition and fees deduction (Form 1040, line 27, or Form 1040A,
line 19) for the same student in the same year.
Part I
Hope Credit. Caution: You cannot take the Hope credit for more than 2 tax years for the same student.
1
(a) Student’s name
(c) Qualified
(b) Student’s
(d) Enter the
(as shown on page 1
expenses (see
social security
smaller of the
(e) Subtract
(f) Enter one-half
instructions). Do
of your tax return)
number (as
amount in
column (d) from
of the amount in
not enter more
First name
shown on page 1
column (c) or
column (c)
column (e)
than $2,000 for
of your tax return)
$1,000
Last name
each student.
2
2
Add the amounts in columns (d) and (f)
3
Tentative Hope credit. Add the amounts on line 2, columns (d) and (f). If you are taking
the lifetime learning credit for another student, go to Part II; otherwise, go to Part III
3
Part II
Lifetime Learning Credit
Caution: You
4
(a) Student’s name (as shown on page 1
(b) Student’s social security
(c) Qualified
cannot take the
of your tax return)
number (as shown on page
expenses (see
Hope credit and
1 of your tax return)
instructions)
First name
Last name
the lifetime learning
credit for the same
student in the
same year.
5
5
Add the amounts on line 4, column (c), and enter the total
6
6
Enter the smaller of line 5 or $10,000
7
Tentative lifetime learning credit. Multiply line 6 by 20% (.20) and go to Part III
7
Part III
Allowable Education Credits
8
8
Tentative education credits. Add lines 3 and 7
9
Enter: $105,000 if married filing jointly; $52,000 if single, head of
9
household, or qualifying widow(er)
10
10
Enter the amount from Form 1040, line 37*, or Form 1040A, line 22
11
Subtract line 10 from line 9. If zero or less, stop; you cannot take
11
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 the amount from Form 1040, line 45, or Form 1040A, line 28
16
Enter the total, if any, of your credits from Form 1040, lines 46 through 48, or Form
16
1040A, lines 29 and 30
17
Subtract line 16 from line 15. If zero or less, stop; you cannot take any education
17
credits
18
Education credits. Enter the smaller of line 14 or line 17 here and on Form 1040,
18
line 49, or Form 1040A, line 31
*
If you are filing Form 2555, 2555-EZ, or 4563 or you are excluding income from Puerto Rico, see Pub. 970 for the amount to enter.
8863
For Paperwork Reduction Act Notice, see page 3.
Form
(2004)
Cat. No. 25379M
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