Get the free irs form 8917 2011 revision

Information about Form 8917 and its instructions is at www.irs.gov/form8917. DRAFT AS OF December 24 2014 DO NOT FILE CAUTION You cannot take both an education credit from Form 8863 and the tuition and fees deduction from this form for the same student for the same tax year. 970 chapter 6 to figure the amount to enter on line 5. filing jointly Yes. Enter the smaller of line 2 or 2 000. No. Enter the smaller of line 2 or 4 000. Also enter this amo...

How to fill out irs form 8917 2011

How to fill out IRS Form 8917 2011:

1. Gather your educational expenses: Before filling out IRS Form 8917 2011, make sure you have all the necessary information regarding your educational expenses. This includes tuition fees, books, supplies, and other qualified educational expenses.
2. Obtain your Form 1098-T: Contact your educational institution to receive Form 1098-T, which provides information about the amounts paid for qualified tuition and related expenses. This form is crucial for accurately completing Form 8917.
3. Understand eligible educational institutions: Ensure that your educational institution qualifies for the purposes of Form 8917. The institution should be an eligible post-secondary educational institution that offers higher education programs, such as colleges, universities, or vocational schools.
4. Start completing Form 8917: Begin by filling out your personal information, including your name, Social Security number, and filing status. Double-check your information for accuracy to avoid any processing delays.
5. Enter the educational institution's information: In this section, provide the name, address, and taxpayer identification number of the educational institution you attended. Make sure the information is correct and matches the details on Form 1098-T.
6. Calculate the adjusted qualified education expenses: Use the information from Form 1098-T to calculate your adjusted qualified education expenses. These expenses may include tuition fees, books, supplies, and equipment required for your courses.
7. Determine the total amount of qualified education expenses: Sum up all your eligible educational expenses to find the total amount. This total will be used to calculate your education credits, so ensure that you include all applicable expenses.
8. Compute your education credits: Depending on your eligibility, you may be eligible for education credits such as the American Opportunity Credit or the Lifetime Learning Credit. Follow the instructions on Form 8917 to calculate the credits based on your adjusted qualified education expenses.
9. Transfer credit amounts: Once you have determined the education credits you are eligible for, transfer the appropriate amounts to the relevant sections of your tax return. Form 8917 only calculates the credits, so they need to be reported elsewhere on your return.

Who needs IRS Form 8917 2011:

1. Students in higher education: Individuals who were enrolled in higher education courses, such as colleges or universities, during the tax year may need to fill out IRS Form 8917 2011. This form allows eligible students to claim education credits or deductions to help offset the costs of their education.
2. Taxpayers claiming education credits: If you qualify for education credits, such as the American Opportunity Credit or the Lifetime Learning Credit, you may need to complete Form 8917. This form helps determine the amount of credits you are eligible to claim based on your qualified education expenses.
3. Individuals with eligible educational expenses: If you had qualifying educational expenses during the tax year, whether or not you attended a higher education institution, it may be necessary to fill out Form 8917. This form assists in calculating deductions or credits related to educational expenses, providing potential tax benefits.

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