Get the free Form 8917

Form 8917 OMB No. 1545-0074 Tuition and Fees Deduction ? Department of the Treasury Internal Revenue Service ? 2009 See Instructions. Attachment Sequence No. 163 Attach to Form 1040 or Form 1040A.

How to fill out form 8917

How to fill out Form 8917:

1. Gather your necessary information: Before filling out Form 8917, make sure you have all the relevant information handy. This includes your educational institution's name, address, and employer identification number (EIN), as well as the total amount of qualified education expenses.
2. Begin with personal information: Start by entering your name, Social Security number, and any other required personal details at the top of Form 8917.
3. Report your qualified education expenses: In Part I of Form 8917, you will need to provide details about your qualified education expenses. These expenses can include tuition, fees, and course materials required for enrollment or attendance at an eligible educational institution. Report the total amount in the appropriate section.
4. Determine your adjusted qualified education expenses: If you received any tax-free educational assistance, such as scholarships or grants, you need to deduct these amounts from your total qualified education expenses. This will give you the adjusted qualified education expenses, which should be reported in Part II of Form 8917.
5. Calculate your education tax credit: Depending on your eligibility, you may be entitled to claim either the American Opportunity Credit or the Lifetime Learning Credit. Refer to the instructions provided with Form 8917 to determine which credit applies to you. Calculate the credit amount based on the information provided.
6. Complete the remaining sections: After calculating your education tax credit, complete the remaining sections of Form 8917 as instructed. This may include signing and dating the form.

Who needs Form 8917:

1. Students pursuing higher education: Form 8917 is typically required by individuals who are currently enrolled or attended an eligible educational institution and incur qualified education expenses. This applies to both undergraduate and graduate students.
2. Taxpayers claiming education tax credits: If you are eligible to claim either the American Opportunity Credit or the Lifetime Learning Credit on your tax return, you will need to fill out Form 8917 to accurately report your qualified education expenses and calculate your credit amount.
3. Individuals with tax-free educational assistance: If you received tax-free educational assistance such as scholarships, grants, or employer-provided educational assistance during the tax year, you may need to subtract these amounts from your qualified education expenses using Form 8917.

Please note that the information provided here is a general guideline, and it is recommended to consult the official instructions and IRS publications related to Form 8917 for complete and accurate filing.

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What is form 8917?

Form 8917 is used by individuals to claim the tuition and fees deduction on their federal income tax return.

Who is required to file form 8917?

Individuals who paid qualified tuition and related expenses for higher education are required to file form 8917 if they want to claim the deduction.

How to fill out form 8917?

To fill out form 8917, individuals need to provide information about the school attended, the amount of tuition and fees paid, and any scholarships or grants received.

What is the purpose of form 8917?

The purpose of form 8917 is to allow individuals to claim the tuition and fees deduction, which can help reduce their taxable income.

What information must be reported on form 8917?

Information such as the name and address of the educational institution, the amount of qualified expenses paid, and any scholarships or grants received must be reported on form 8917.