Form 8863 - Education Credits (American Opportunity And Lifetime Learning Credits) - 2014

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8863
Education Credits
OMB No. 1545-0074
(American Opportunity and Lifetime Learning Credits)
2014
Form
Attach to Form 1040 or Form 1040A.
Attachment
Department of the Treasury
50
Information about Form 8863 and its separate instructions is at
(99)
Sequence No.
Internal Revenue Service
Your social security number
Name(s) shown on return
!
Complete a separate Part III on page 2 for each student for whom you are claiming either credit
before you complete Parts I and II.
CAUTION
Part I
Refundable American Opportunity Credit
1
1
After completing Part III for each student, enter the total of all amounts from all Parts III, line 30
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2
Enter: $180,000 if married filing jointly; $90,000 if single, head of
household, or qualifying widow(er)
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2
3
Enter the amount from Form 1040, line 38, or Form 1040A, line 22. 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
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3
4
Subtract line 3 from line 2. If zero or less, stop; you cannot take any
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education credit
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5
Enter: $20,000 if married filing jointly; $10,000 if single, head of household,
or qualifying widow(er)
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5
6
If line 4 is:
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• Equal to or more than line 5, enter 1.000 on line 6 .
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• Less than line 5, divide line 4 by line 5. Enter the result as a decimal (rounded to
at least three places)
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7
Multiply line 1 by line 6. Caution: If you were under age 24 at the end of the year and meet
the conditions described in the instructions, you cannot take the refundable American opportunity
credit; skip line 8, enter the amount from line 7 on line 9, and check this box
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7
8
Refundable American opportunity credit. Multiply line 7 by 40% (.40). Enter the amount here and
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on Form 1040, line 68, or Form 1040A, line 44. Then go to line 9 below.
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Part II
Nonrefundable Education Credits
9
9
Subtract line 8 from line 7. Enter here and on line 2 of the Credit Limit Worksheet (see instructions)
10
After completing Part III for each student, enter the total of all amounts from all Parts III, line 31. If
zero, skip lines 11 through 17, enter -0- on line 18, and go to line 19
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10
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Enter the smaller of line 10 or $10,000
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12
Multiply line 11 by 20% (.20)
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12
13
Enter: $128,000 if married filing jointly; $64,000 if single, head of
household, or qualifying widow(er)
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13
14
Enter the amount from Form 1040, line 38, or Form 1040A, line 22. 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
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14
15
Subtract line 14 from line 13. If zero or less, skip lines 16 and 17, enter -0-
on line 18, and go to line 19
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15
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Enter: $20,000 if married filing jointly; $10,000 if single, head of household,
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or qualifying widow(er)
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17
If line 15 is:
• Equal to or more than line 16, enter 1.000 on line 17 and go to line 18
• Less than line 16, divide line 15 by line 16. Enter the result as a decimal (rounded to at least three
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places) .
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18
Multiply line 12 by line 17. Enter here and on line 1 of the Credit Limit Worksheet (see instructions)
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Nonrefundable education credits. Enter the amount from line 7 of the Credit Limit Worksheet (see
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instructions) here and on Form 1040, line 50, or Form 1040A, line 33
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8863
For Paperwork Reduction Act Notice, see your tax return instructions.
Form
(2014)
Cat. No. 25379M

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