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What Is The IRS Form 8863? – Major Requirements To Fill The Form

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IRS Form 8863 enables claiming tax credits for qualified educational expenses, including the American Opportunity Credit and Lifetime Learning Credit.

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To claim education tax credits, use Form 8863 and attend an eligible post-secondary institution recognized by the federal student aid program.

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Form 8863 offers major education benefits like the American Opportunity Credit for early years of post-secondary schooling.

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The Lifetime Learning Credit, available for eligible post-secondary study, can reduce tax liability up to $2000 for enrollment costs.

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Completing Form 8863 requires info from Form W2/1099, TIN, institution details, and documentation of qualified expenses.