Fillable Form 8863 (2024)

What Is IRS Form 8863?

IRS Form 8863, Education Credits, is used by taxpayers to calculate and claim two valuable education tax credits: the American Opportunity Tax Credit (AOTC) and the Lifetime Learning Credit (LLC). These credits can help offset the cost of higher education for you, your spouse, or your dependents.

For the 2024 tax year, Form 8863 must be attached to your Form 1040 or 1040-SR when filing your federal income tax return.

Education Credits at a Glance

American Opportunity Tax Credit (AOTC)

• Worth up to $2,500 per eligible student per year
• Available for the first four years of post-secondary education
• Covers tuition, fees, and course materials
• 40% is refundable (up to $1,000 back even if you owe no tax)
• Income phase-out begins at $80,000 (single) or $160,000 (married filing jointly)

Lifetime Learning Credit (LLC)

• Worth up to $2,000 per tax return per year
• Available for all years of post-secondary education, including graduate school
• Covers tuition and fees
• Non-refundable (reduces tax owed but no refund beyond zero)
• Income phase-out begins at $80,000 (single) or $160,000 (married filing jointly)

Who Should File Form 8863?

You may be eligible to file Form 8863 if:

• You, your spouse, or a dependent were enrolled at an eligible educational institution
• You paid qualified education expenses during the 2024 tax year
• Your modified adjusted gross income (MAGI) falls below the phase-out thresholds
• The student has a valid Social Security number or Individual Taxpayer Identification Number
• You are not filing as married filing separately

How to Fill Out Form 8863

Part I: Refundable American Opportunity Credit

1. Enter the tentative American Opportunity Credit from Part III
2. Enter your modified adjusted gross income
3. Calculate the credit based on income phase-out rules

Part II: Nonrefundable Education Credits

1. Enter the tentative Lifetime Learning Credit amount from Part III
2. Calculate the allowable credit based on your tax liability
3. Combine with any nonrefundable portion of the AOTC

Part III: Student and Education Information

1. Provide each eligible student's name and Social Security number
2. Indicate the educational institution attended
3. Report the adjusted qualified education expenses
4. Select which credit you are claiming for each student

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Frequently Asked Questions

Can I claim both the AOTC and LLC?

You can claim both credits in the same year, but not for the same student. For example, you could claim the AOTC for one child and the LLC for another.

What qualifies as an eligible educational institution?

An eligible institution is any college, university, vocational school, or other post-secondary institution eligible to participate in a student aid program run by the U.S. Department of Education.

Do I need Form 1098-T to claim education credits?

Generally, yes. Your educational institution should provide Form 1098-T, Tuition Statement, which reports the amounts paid for qualified tuition and related expenses.

What if my income exceeds the phase-out limits?

If your MAGI exceeds $90,000 (single) or $180,000 (married filing jointly), you cannot claim either education credit. Partial credits are available within the phase-out range.