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Form Steps to Complete IRS 8863 Online Lansing Michigan: What You Should Know
PO Box 1119, Lansing, MI 48907. For more information, call or email krystallscco.edu. Educational Tax Credit Information — IRS Form 1098-E To calculate your income-tax deduction for eligible expenses, use Form 1098-E. How do I figure a deduction for an education credit? To determine credit eligibility, enter all the following information on IRS Form 1098-E. Select from the drop-down menu. Enter the total amount of eligible expenses you paid to qualified individuals and a dependent during the year. Select an amount to use as a partial deduction. See the instructions for Form 1098-E for more information. A. Qualified student 1. Qualified student means someone who meets at least one of the following criteria: a) A student who is a foster (domestic or country) foster care system student. b) A student enrolled at a private, nonprofit college or university for a tuition and fee-free program for degree or certificate programs only. c) A student at a postsecondary vocational school and enrolled in the program full-time solely for an academic or professional degree. d) A student that (i) is a graduate or professional degree-seeking student who has obtained an undergraduate degree from an institution of higher education and has successfully completed course work from the institution of higher education; or (ii) is in any graduate or professional degree-receiving program, other than a graduate or professional degree-seeking program at an institution of higher education, that is offered on a part-time basis for graduate or professional study. 2. Qualified student's spouse 3. Qualified student's dependents 5. Total amount of ineligible expenses 6. Total amount of credit If your education expenses were paid by another person or entity, include only the amount paid by that person or entity. What if I don't pay for the tuition and fees of someone else? Enter the amount of the tuition expense and fees paid by you to that person or entity on a separate, completed Form 1098-E. Why can't I claim the education credits by filing Form 4889? You must also file Forms 4889 with all the following information on them. 1. Tax Year 2. Qualifying educational expenses/amount paid 3. Amount of credit claimed 6. Exemptions for tax year A.
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