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What are qualified 8863 expenses?

Qualified education expenses include nonacademic fees, such as student activity fees, athletic fees, or other expenses unrelated to the academic course of instruction, only if the fee must be paid to the institution as a condition of enrollment or attendance.

Can I claim American Opportunity Tax Credit after 4 years?

You may only claim the American Opportunity Tax Credit (or the old Hope Credit) for four years of undergraduate education. So, if you have claimed the credit in four previous tax years for a given student, you cannot claim it again in 2012, a fifth time.

What is the credit limit worksheet?

The 8863 Credit Limit Worksheet is a document that helps you calculate the maximum credit limit for each of your business locations.

What does it mean to claim an education credit?

An education credit helps with the cost of higher education by reducing the amount of tax owed on your tax return. If the credit reduces your tax to less than zero, you may get a refund. There are two education credits available: the American opportunity tax credit (AOTC) and the lifetime learning credit (LLC).

Where do I find form 8863 on TurboTax?

Where do i find the form 8863 Login to your TurboTax Account. Click "Take Me To My Return" Click "Search" in the upper right corner, then type "1098T" in the Search Box. When the results populate, click the "Jump to Link" Click "Yes" where it asks if you want to enter higher education expenses.

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