Form 8863 is used by individuals to figure and claim education credits (Hope Credit, Lifetime Learning Credit, etc. Instructions for How to Complete IRS Form 8863. If you use the form to calculate your LLTC, you can skip Part I and start with Part II, which begins on line 9. Something to keep in mind when filing IRS Form 8863: you can claim both on the same return, but only one per student. Step 1: Launch PDFelement. To demonstrate, we will use the following example: Dave received a 1099-Q for a distribution that he received from his QTP (Qualified Tuition Program). You can access it by visiting the IRS website and you’ll need to complete it and file it with your Form 1040. To claim the AOTC, you will need to use Form 8863 and attach the completed form to your Form 1040. Credit Karma Tax®, a free online tax preparation service, walks you through this process. If you choose to claim the AOTC on your tax return using Form 8863, you cannot also claim the LLC for the same student in the same year. When you complete the questions in the applicable section, using Form 8863 as an example, you will answer the questions in the Education section and if you qualify for education or other credit, the Form 8863 will be generated and be included in your return when you file. If you are eligible for either of the educational credits, the two-page Form 8863 can be completed with minimal time and effort. If you are asking how to get to Form 8863, in TurboTax Online, all forms generation is based on the interview questions. After entering the student’s name and Social Security number, a simple calculation determines the credit you can claim. Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube. ). Tax Form 8863 Education Credits. Launch the program, drag and drop the IRS Form 8863 into PDFelement . To … See our Education Credits Frequently Asked Question page for more information. You have two options with how to report your Qualified Education Expenses on Form 1099-Q. His gross distribution (box 1) was $5000 and his earnings (box 2) were $1500. Form 8863 is a two-page form used for computing educational tax credits. Preparing Form 8863. Form 8889 is the tax form that covers all things related to your health savings account (HSA). Please note that your HSA administrator will not send this to you in the mail; they’ll only send your IRS Form 1099-SA and IRS Form 5498-SA. Before starting to fill the IRS Form 8863, you need to ensure that you are one of the eligible students. Using Form 8863. To compute the amount of your LLTC, enter the name, Social Security number, and qualified expenses of each applicable student. 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