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Filing Taxes For 2012 Late

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Filing Taxes For 2012 Late

Filing taxes for 2012 late Publication 1544(SP) - Introductory Material Table of Contents Qué Hay de Nuevo Introducción Qué Hay de Nuevo Acontecimientos futuros. Filing taxes for 2012 late  Si desea obtener la información más reciente sobre los acontecimientos relacionados con la Publicación 1544(SP), tal como legislación promulgada después que ésta fue impresa, acceda a www. Filing taxes for 2012 late irs. Filing taxes for 2012 late gov/pub1544, en inglés. Filing taxes for 2012 late Cómo enmendar un informe. Filing taxes for 2012 late  Puede enmendar un informe anterior marcando el encasillado 1a en la parte superior del Formulario 8300-SP. Filing taxes for 2012 late Vea Cómo enmendar un informe, más adelante. Filing taxes for 2012 late Introducción Si, en un período de 12 meses, usted recibe de un comprador más de $10,000 en efectivo producto de una transacción llevada a cabo en su ocupación o negocio, tiene que declarar la transacción al Servicio de Impuestos Internos (IRS, por sus siglas en inglés) y a la Financial Crimes Enforcement Network (Red para hacer cumplir la ley contra delitos financieros, o FinCEN, por su abreviatura en inglés) en el Formulario 8300-SP, Informe de Pagos en Efectivo en Exceso de $10,000 Recibidos en una Ocupación o Negocio, o en el Formulario 8300, Report of Cash Payments Over $10,000 Received in a Trade or Business, en inglés. Filing taxes for 2012 late En esta publicación se explica por qué, cuándo y dónde debe declarar estos pagos recibidos en efectivo, así como las multas considerables que se imponen por no declarar dichos pagos. Filing taxes for 2012 late Algunas organizaciones no tienen que presentar el Formulario 8300-SP, incluidas las instituciones financieras que deben presentar el Formulario 104 de la FinCEN (anteriormente Formulario 4789), Currency Transaction Report (Informe de transacciones en efectivo), en inglés, así como los casinos, los cuales deben presentar el Formulario 103 de la FinCEN (anteriormente Formulario 8362), Currency Transaction Report by Casinos (Informe de transacciones en efectivo hechas por casinos), también en inglés. Filing taxes for 2012 late Esta publicación no incluye información sobre estos dos últimos formularios. Filing taxes for 2012 late En esta publicación encontrará explicaciones sobre la terminología y los puntos más importantes relacionados con el Formulario 8300-SP. Filing taxes for 2012 late Lea las instrucciones adjuntas a este formulario, ya que explican lo que debe anotar en cada línea del mismo. Filing taxes for 2012 late Prev  Up  Next   Home   More Online Publications
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Better Business Bureaus (BBBs) are nonprofit organizations that encourage honest advertising and selling practices and are supported primarily by local businesses. They offer a variety of consumer services, including consumer education materials; business reports, particularly unanswered or unsettled complaints or other problems; mediation and arbitration services; and information about charities and other organizations that are seeking public donations. They also provide ratings (A, B, C, D, or F) of local companies to express the BBB's confidence that the company operates in a trustworthy manner and demonstrates a willingness to resolve customer concerns.

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The Filing Taxes For 2012 Late

Filing taxes for 2012 late 2. Filing taxes for 2012 late   American Opportunity Credit Table of Contents Introduction Can You Claim the CreditWho Can Claim the Credit Who Cannot Claim the Credit What Expenses QualifyQualified Education Expenses No Double Benefit Allowed Expenses That Do Not Qualify Who Is an Eligible StudentException. Filing taxes for 2012 late Who Can Claim a Dependent's Expenses Figuring the CreditEffect of the Amount of Your Income on the Amount of Your Credit Refundable Part of Credit Claiming the Credit Introduction For 2013, there are two tax credits available to help you offset the costs of higher education by reducing the amount of your income tax. Filing taxes for 2012 late They are the American opportunity credit (this chapter) and the lifetime learning credit ( chapter 3 ). Filing taxes for 2012 late This chapter explains: Who can claim the American opportunity credit, What expenses qualify for the credit, Who is an eligible student, Who can claim a dependent's expenses, How to figure the credit, How to claim the credit, and When the credit must be repaid. Filing taxes for 2012 late What is the tax benefit of the American opportunity credit. Filing taxes for 2012 late   For the tax year, you may be able to claim an American opportunity credit of up to $2,500 for qualified education expenses paid for each eligible student. Filing taxes for 2012 late   A tax credit reduces the amount of income tax you may have to pay. Filing taxes for 2012 late Unlike a deduction, which reduces the amount of income subject to tax, a credit directly reduces the tax itself. Filing taxes for 2012 late Forty percent of the American opportunity credit may be refundable. Filing taxes for 2012 late This means that if the refundable portion of your credit is more than your tax, the excess will be refunded to you. Filing taxes for 2012 late   Your allowable American opportunity credit may be limited by the amount of your income. Filing taxes for 2012 late Also, the nonrefundable part of the credit may be limited by the amount of your tax. Filing taxes for 2012 late Overview of the American opportunity credit. Filing taxes for 2012 late   See Table 2-1, Overview of the American Opportunity Credit , for the basics of this credit. Filing taxes for 2012 late The details are discussed in this chapter. Filing taxes for 2012 late Can you claim more than one education credit this year. Filing taxes for 2012 late   For each student, you can elect for any year only one of the credits. Filing taxes for 2012 late For example, if you elect to take the American opportunity credit for a child on your 2013 tax return, you cannot use that same child's qualified education expenses to figure the lifetime learning credit for 2013. Filing taxes for 2012 late   If you pay qualified education expenses for more than one student in the same year, you can choose to take the American opportunity credit on a per-student, per-year basis. Filing taxes for 2012 late If you pay qualified education expenses for a student (or students) for whom you do not claim the American opportunity credit, you can use the adjusted qualified education expenses of that student (or those students) in figuring your lifetime learning credit. Filing taxes for 2012 late This means that, for example, you can claim the American opportunity credit for one student and the lifetime learning credit for another student in the same year. Filing taxes for 2012 late Differences between the American opportunity and lifetime learning credits. Filing taxes for 2012 late   There are several differences between these two credits. Filing taxes for 2012 late For example, you can claim the American opportunity credit based on the same student's expenses for no more than 4 tax years, which includes any tax years you claimed the Hope Scholarship Credit for that student. Filing taxes for 2012 late However, there is no limit on the number of years for which you can claim a lifetime learning credit based on the same student's expenses. Filing taxes for 2012 late The differences between these credits are shown in Appendix B, Highlights of Education Tax Benefits for Tax Year 2013 near the end of this publication. Filing taxes for 2012 late If you claim the American opportunity credit for any student, you can choose between using that student's adjusted qualified education expenses for the American opportunity credit or the lifetime learning credit. Filing taxes for 2012 late If you have the choice, the American opportunity credit will always be greater than the lifetime learning credit. Filing taxes for 2012 late Table 2-1. Filing taxes for 2012 late Overview of the American Opportunity Credit Maximum credit Up to $2,500 credit per eligible student Limit on modified adjusted gross income (MAGI) $180,000 if married filing jointly; $90,000 if single, head of household, or qualifying widow(er) Refundable or nonrefundable 40% of credit may be refundable; the rest is nonrefundable Number of years of postsecondary education Available ONLY if the student had not completed the first 4 years of postsecondary education before 2013 Number of tax years credit available Available ONLY for 4 tax years per eligible student (including any year(s) Hope Scholarship Credit was claimed) Type of program required Student must be pursuing a program leading to a degree or other recognized education credential Number of courses Student must be enrolled at least half time for at least one academic period that begins during the tax year Felony drug conviction As of the end of 2013, the student had not been convicted of a felony for possessing or distributing a controlled substance Qualified expenses Tuition, required enrollment fees, and course materials that the student needs for a course of study whether or not the materials are bought at the educational institution as a condition of enrollment or attendance Payments for academic periods Payments made in 2013 for academic periods beginning in 2013 or beginning in the first 3 months of 2014 Can You Claim the Credit The following rules will help you determine if you are eligible to claim the American opportunity credit on your tax return. Filing taxes for 2012 late Who Can Claim the Credit Generally, you can claim the American opportunity credit if all three of the following requirements are met. Filing taxes for 2012 late You pay qualified education expenses of higher education. Filing taxes for 2012 late You pay the education expenses for an eligible student. Filing taxes for 2012 late The eligible student is either yourself, your spouse, or a dependent for whom you claim an exemption on your tax return. Filing taxes for 2012 late Student qualifications. Filing taxes for 2012 late   Generally, you can take the American opportunity credit for a student only if all of the following four requirements are met. Filing taxes for 2012 late As of the beginning of 2013, the student had not completed the first four years of postsecondary education (generally, the freshman through senior years of college), as determined by the eligible educational institution. Filing taxes for 2012 late For this purpose, do not include academic credit awarded solely because of the student's performance on proficiency examinations. Filing taxes for 2012 late Neither the American opportunity credit nor the Hope Scholarship Credit has been claimed (by you or anyone else) for this student for any four tax years before 2013. Filing taxes for 2012 late If the American opportunity credit (and Hope Scholarship Credit) has been claimed for this student for any three or fewer tax years before 2013, this requirement is met. Filing taxes for 2012 late For at least one academic period beginning (or treated as beginning) in 2013, the student both: Was enrolled in a program that leads to a degree, certificate, or other recognized educational credential; and Carried at least one-half the normal full-time workload for his or her course of study. Filing taxes for 2012 late The standard for what is half of the normal full-time work load is determined by each eligible educational institution. Filing taxes for 2012 late However, the standard may not be lower than any of those established by the U. Filing taxes for 2012 late S. Filing taxes for 2012 late Department of Education under the Higher Education Act of 1965. Filing taxes for 2012 late For purposes of whether the student satisfies this third requirement for 2013, treat an academic period beginning in the first three months of 2014 as if it began in 2013 if qualified education expenses for the student were paid in 2013 for that academic period. Filing taxes for 2012 late See Prepaid expenses, later. Filing taxes for 2012 late As of the end of 2013, the student had not been convicted of a federal or state felony for possessing or distributing a controlled substance. Filing taxes for 2012 late Example 1. Filing taxes for 2012 late Sharon was eligible for the Hope Scholarship Credit for 2007 and 2008 and for the American opportunity credit for 2010 and 2012. Filing taxes for 2012 late Her parents claimed the Hope Scholarship Credit for Sharon on their tax returns for 2007 and 2008 and claimed the American opportunity credit for Sharon on their 2010 tax return. Filing taxes for 2012 late Sharon claimed the American opportunity credit on her 2012 tax return. Filing taxes for 2012 late The American opportunity credit and Hope Scholarship Credit have been claimed for Sharon for four tax years before 2013. Filing taxes for 2012 late Therefore, the American opportunity credit cannot be claimed by Sharon for 2013. Filing taxes for 2012 late If Sharon were to file Form 8863 for 2013, she would check “Yes” for Part III, line 23, and would be eligible to claim only the lifetime learning credit. Filing taxes for 2012 late Example 2. Filing taxes for 2012 late Wilbert was eligible for the American opportunity credit for 2009, 2010, 2011, and 2013. Filing taxes for 2012 late His parents claimed the American opportunity credit for Wilbert on their tax returns for 2009, 2010, and 2011. Filing taxes for 2012 late No one claimed an American opportunity credit or Hope Scholarship Credit for Wilbert for any other tax year. Filing taxes for 2012 late The American opportunity credit and Hope Scholarship Credit have been claimed for Wilbert for only three tax years before 2013. Filing taxes for 2012 late Therefore, Wilbert meets the second requirement to be eligible for the American opportunity credit. Filing taxes for 2012 late If Wilbert were to file Form 8863 for 2013, he would check “No” for Part III, line 23. Filing taxes for 2012 late If Wilbert meets all of the other requirements, he is eligible for the American opportunity credit. Filing taxes for 2012 late Example 3. Filing taxes for 2012 late Glenda enrolls on a full-time basis in a degree program for the 2014 Spring semester, which begins in January 2014. Filing taxes for 2012 late Glenda pays her tuition for the 2014 Spring semester in December 2013. Filing taxes for 2012 late Because the tuition Glenda paid in 2013 relates to an academic period that begins in the first 3 months of 2014, her eligibility to claim an American opportunity credit in 2013 is determined as if the 2014 Spring semester began in 2013. Filing taxes for 2012 late If the requirements above are not met for any student, you cannot take the American opportunity credit for that student. Filing taxes for 2012 late You may be able to take the lifetime learning credit for part or all of that student's qualified education expenses instead. Filing taxes for 2012 late Note. Filing taxes for 2012 late Qualified education expenses paid by a dependent for whom you claim an exemption, or by a third party for that dependent, are considered paid by you. Filing taxes for 2012 late “Qualified education expenses” are defined later under Qualified Education Expenses . Filing taxes for 2012 late “Eligible students” are defined later under Who Is an Eligible Student . Filing taxes for 2012 late A dependent for whom you claim an exemption is defined later under Who Can Claim a Dependent's Expenses . Filing taxes for 2012 late You may find Figure 2-1, Can You Claim the American Opportunity Credit for 2013 , later, helpful in determining if you can claim an American opportunity credit on your tax return. Filing taxes for 2012 late This image is too large to be displayed in the current screen. Filing taxes for 2012 late Please click the link to view the image. Filing taxes for 2012 late Figure 2-1 Can you claim the American opportunity credit for 2012? Who Cannot Claim the Credit You cannot claim the American opportunity credit for 2013 if any of the following apply. Filing taxes for 2012 late Your filing status is married filing separately. Filing taxes for 2012 late You are listed as a dependent on another person's tax return (such as your parents'). Filing taxes for 2012 late See Who Can Claim a Dependent's Expenses , later. Filing taxes for 2012 late Your modified adjusted gross income (MAGI) is $90,000 or more ($180,000 or more in the case of a joint return). Filing taxes for 2012 late MAGI is explained later under Effect of the Amount of Your Income on the Amount of Your Credit . Filing taxes for 2012 late You (or your spouse) were a nonresident alien for any part of 2013 and the nonresident alien did not elect to be treated as a resident alien for tax purposes. Filing taxes for 2012 late More information on nonresident aliens can be found in Publication 519, U. Filing taxes for 2012 late S. Filing taxes for 2012 late Tax Guide for Aliens. Filing taxes for 2012 late What Expenses Qualify The American opportunity credit is based on adjusted qualified education expenses you pay for yourself, your spouse, or a dependent for whom you claim an exemption on your tax return. Filing taxes for 2012 late Generally, the credit is allowed for adjusted qualified education expenses paid in 2013 for an academic period beginning in 2013 or beginning in the first three months of 2014. Filing taxes for 2012 late For example, if you paid $1,500 in December 2013 for qualified tuition for the spring 2014 semester beginning January 2014, you can use that $1,500 in figuring your 2013 credit. Filing taxes for 2012 late Academic period. Filing taxes for 2012 late   An academic period includes a semester, trimester, quarter, or other period of study (such as a summer school session) as reasonably determined by an educational institution. Filing taxes for 2012 late In the case of an educational institution that uses credit hours or clock hours and does not have academic terms, each payment period can be treated as an academic period. Filing taxes for 2012 late Paid with borrowed funds. Filing taxes for 2012 late   You can claim an American opportunity credit for qualified education expenses paid with the proceeds of a loan. Filing taxes for 2012 late Use the expenses to figure the American opportunity credit for the year in which the expenses are paid, not the year in which the loan is repaid. Filing taxes for 2012 late Treat loan payments sent directly to the educational institution as paid on the date the institution credits the student's account. Filing taxes for 2012 late Student withdraws from class(es). Filing taxes for 2012 late   You can claim an American opportunity credit for qualified education expenses not refunded when a student withdraws. Filing taxes for 2012 late Qualified Education Expenses For purposes of the American opportunity credit, qualified education expenses are tuition and certain related expenses required for enrollment or attendance at an eligible educational institution. Filing taxes for 2012 late Eligible educational institution. Filing taxes for 2012 late   An eligible educational institution is any college, university, vocational school, or other postsecondary educational institution eligible to participate in a student aid program administered by the U. Filing taxes for 2012 late S. Filing taxes for 2012 late Department of Education. Filing taxes for 2012 late It includes virtually all accredited public, nonprofit, and proprietary (privately owned profit-making) postsecondary institutions. Filing taxes for 2012 late The educational institution should be able to tell you if it is an eligible educational institution. Filing taxes for 2012 late   Certain educational institutions located outside the United States also participate in the U. Filing taxes for 2012 late S. Filing taxes for 2012 late Department of Education's Federal Student Aid (FSA) programs. Filing taxes for 2012 late Related expenses. Filing taxes for 2012 late   Student-activity fees are included in qualified education expenses only if the fees must be paid to the institution as a condition of enrollment or attendance. Filing taxes for 2012 late   However, expenses for books, supplies, and equipment needed for a course of study are included in qualified education expenses whether or not the materials are purchased from the educational institution. Filing taxes for 2012 late Prepaid expenses. Filing taxes for 2012 late   Qualified education expenses paid in 2013 for an academic period that begins in the first three months of 2014 can be used in figuring an education credit for 2013 only. Filing taxes for 2012 late See Academic period, earlier. Filing taxes for 2012 late For example, if you pay $2,000 in December 2013, for qualified tuition for the 2014 winter quarter that begins in January 2014, you can use that $2,000 in figuring an education credit for 2013 only (if you meet all the other requirements). Filing taxes for 2012 late    You cannot use any amount you paid in 2012 or 2014 to figure the qualified education expenses you use to figure your 2013 education credit(s). Filing taxes for 2012 late   In the following examples, assume that each student is an eligible student at an eligible educational institution. Filing taxes for 2012 late Example 1. Filing taxes for 2012 late Jefferson is a sophomore in University V's degree program in dentistry. Filing taxes for 2012 late This year, in addition to tuition, he is required to pay a fee to the university for the rental of the dental equipment he will use in this program. Filing taxes for 2012 late Because the equipment rental is needed for his course of study, Jefferson's equipment rental fee is a qualified expense. Filing taxes for 2012 late Example 2. Filing taxes for 2012 late Grace and William, both first-year students at College W, are required to have certain books and other reading materials to use in their mandatory first-year classes. Filing taxes for 2012 late The college has no policy about how students should obtain these materials, but any student who purchases them from College W's bookstore will receive a bill directly from the college. Filing taxes for 2012 late William bought his books from a friend; Grace bought hers at College W's bookstore. Filing taxes for 2012 late Both are qualified education expenses for the American opportunity credit. Filing taxes for 2012 late Example 3. Filing taxes for 2012 late When Kelly enrolled at College X for her freshman year, she had to pay a separate student activity fee in addition to her tuition. Filing taxes for 2012 late This activity fee is required of all students, and is used solely to fund on-campus organizations and activities run by students, such as the student newspaper and the student government. Filing taxes for 2012 late No portion of the fee covers personal expenses. Filing taxes for 2012 late Although labeled as a student activity fee, the fee is required for Kelly's enrollment and attendance at College X and is a qualified expense. Filing taxes for 2012 late No Double Benefit Allowed You cannot do any of the following. Filing taxes for 2012 late Deduct higher education expenses on your income tax return (as, for example, a business expense) and also claim an American opportunity credit based on those same expenses. Filing taxes for 2012 late Claim an American opportunity credit in the same year that you are claiming a tuition and fees deduction for the same student. Filing taxes for 2012 late Claim an American opportunity credit for any student and use any of that student's expenses in figuring your lifetime learning credit. Filing taxes for 2012 late Figure the tax-free portion of a distribution from a Coverdell education savings account (ESA) or qualified tuition program (QTP) using the same expenses you used to figure the American opportunity credit. Filing taxes for 2012 late See Coordination With American Opportunity and Lifetime Learning Credits in chapter 7, Coverdell Education Savings Account, and Coordination With American Opportunity and Lifetime Learning Credits in chapter 8, Qualified Tuition Program. Filing taxes for 2012 late Claim a credit based on qualified education expenses paid with tax-free educational assistance, such as a scholarship, grant, or assistance provided by an employer. Filing taxes for 2012 late See Adjustments to Qualified Education Expenses, next. Filing taxes for 2012 late Adjustments to Qualified Education Expenses For each student, reduce the qualified education expenses paid by or on behalf of that student under the following rules. Filing taxes for 2012 late The result is the amount of adjusted qualified education expenses for each student. Filing taxes for 2012 late Tax-free educational assistance. Filing taxes for 2012 late   For tax-free educational assistance received in 2013, reduce the qualified educational expenses for each academic period by the amount of tax-free educational assistance allocable to that academic period. Filing taxes for 2012 late See Academic period, earlier. Filing taxes for 2012 late   Some tax-free educational assistance received after 2013 may be treated as a refund of qualified education expenses paid in 2013. Filing taxes for 2012 late This tax-free educational assistance is any tax-free educational assistance received by you or anyone else after 2013 for qualified education expenses paid on behalf of a student in 2013 (or attributable to enrollment at an eligible educational institution during 2013). Filing taxes for 2012 late   If this tax-free educational assistance is received after 2013 but before you file your 2013 income tax return, see Refunds received after 2013 but before your income tax return is filed, later. Filing taxes for 2012 late If this tax-free educational assistance is received after 2013 and after you file your 2013 income tax return, see Refunds received after 2013 and after your income tax return is filed, later. Filing taxes for 2012 late   Tax-free educational assistance includes: The tax-free parts of scholarships and fellowships (see Tax-Free Scholarships and Fellowships in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions), Pell grants (see Pell Grants and Other Title IV Need-Based Education Grants in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions). Filing taxes for 2012 late Employer-provided educational assistance (see chapter 11, Employer-Provided Educational Assistance ), Veterans' educational assistance (see Veterans' Benefits in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions), and Any other nontaxable (tax-free) payments (other than gifts or inheritances) received as educational assistance. Filing taxes for 2012 late Generally, any scholarship or fellowship is treated as tax free. Filing taxes for 2012 late However, a scholarship or fellowship is not treated as tax free to the extent the student includes it in gross income (if the student is required to file a tax return for the year the scholarship or fellowship is received) and either of the following is true. Filing taxes for 2012 late The scholarship or fellowship (or any part of it) must be applied (by its terms) to expenses (such as room and board) other than qualified education expenses as defined in Qualified education expenses in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions. Filing taxes for 2012 late The scholarship or fellowship (or any part of it) may be applied (by its terms) to expenses (such as room and board) other than qualified education expenses as defined in Qualified education expenses in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions. Filing taxes for 2012 late You may be able to increase the combined value of an education credit and certain educational assistance if the student includes some or all of the educational assistance in income in the year it is received. Filing taxes for 2012 late For examples, see Coordination with Pell grants and other scholarships, later. Filing taxes for 2012 late Refunds. Filing taxes for 2012 late   A refund of qualified education expenses may reduce adjusted qualified education expenses for the tax year or require repayment (recapture) of a credit claimed in an earlier year. Filing taxes for 2012 late Some tax-free educational assistance received after 2013 may be treated as a refund. Filing taxes for 2012 late See Tax-free educational assistance, earlier. Filing taxes for 2012 late Refunds received in 2013. Filing taxes for 2012 late   For each student, figure the adjusted qualified education expenses for 2013 by adding all the qualified education expenses for 2013 and subtracting any refunds of those expenses received from the eligible educational institution during 2013. Filing taxes for 2012 late Refunds received after 2013 but before your income tax return is filed. Filing taxes for 2012 late   If anyone receives a refund after 2013 of qualified education expenses paid on behalf of a student in 2013 and the refund is paid before you file an income tax return for 2013, the amount of qualified education expenses for 2013 is reduced by the amount of the refund. Filing taxes for 2012 late Refunds received after 2013 and after your income tax return is filed. Filing taxes for 2012 late   If anyone receives a refund after 2013 of qualified education expenses paid on behalf of a student in 2013 and the refund is paid after you file an income tax return for 2013, you may need to repay some or all of the credit. Filing taxes for 2012 late See Credit recapture, next. Filing taxes for 2012 late Credit recapture. Filing taxes for 2012 late    If any tax-free educational assistance for the qualified education expenses paid in 2013, or any refund of your qualified education expenses paid in 2013, is received after you file your 2013 income tax return, you must recapture (repay) any excess credit. Filing taxes for 2012 late You do this by refiguring the amount of your adjusted qualified education expenses for 2013 by reducing the expenses by the amount of the refund or tax-free educational assistance. Filing taxes for 2012 late You then refigure your education credit(s) for 2013 and figure the amount by which your 2013 tax liability would have increased if you claimed the refigured credit(s). Filing taxes for 2012 late Include that amount as an additional tax for the year the refund or tax-free assistance was received. Filing taxes for 2012 late Example. Filing taxes for 2012 late   You paid $7,000 tuition and fees in August 2013, and your child began college in September 2013. Filing taxes for 2012 late You filed your 2013 tax return on February 17, 2014, and claimed an American opportunity credit of $2,500. Filing taxes for 2012 late After you filed your return, you received a refund of $4,000. Filing taxes for 2012 late You must refigure your 2013 American opportunity credit using $3,000 of qualified education expenses instead of $7,000. Filing taxes for 2012 late The refigured credit is $2,250. Filing taxes for 2012 late The increase to your tax liability is also $250. Filing taxes for 2012 late Include the difference of $250 as additional tax on your 2014 tax return. Filing taxes for 2012 late See the instructions for your 2014 income tax return to determine where to include this tax. Filing taxes for 2012 late If you pay qualified education expenses in 2014 for an academic period that begins in the first 3 months of 2014 and you receive tax-free educational assistance, or a refund, as described above, you may choose to reduce your qualified education expenses for 2014 instead of reducing your expenses for 2013. Filing taxes for 2012 late Amounts that do not reduce qualified education expenses. Filing taxes for 2012 late   Do not reduce qualified education expenses by amounts paid with funds the student receives as: Payment for services, such as wages, A loan, A gift, An inheritance, or A withdrawal from the student's personal savings. Filing taxes for 2012 late   Do not reduce the qualified education expenses by any scholarship or fellowship reported as income on the student's tax return in the following situations. Filing taxes for 2012 late The use of the money is restricted, by the terms of the scholarship or fellowship, to costs of attendance (such as room and board) other than qualified education expenses as defined in Qualified education expenses in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions. Filing taxes for 2012 late The use of the money is not restricted. Filing taxes for 2012 late Example 1. Filing taxes for 2012 late Joan paid $3,000 for tuition and $5,000 for room and board at University X. Filing taxes for 2012 late The university did not require her to pay any fees in addition to her tuition in order to enroll in or attend classes. Filing taxes for 2012 late To help pay these costs, she was awarded a $2,000 scholarship and a $4,000 student loan. Filing taxes for 2012 late The terms of the scholarship state that it can be used to pay any of Joan's college expenses. Filing taxes for 2012 late University X applies the $2,000 scholarship against Joan's $8,000 total bill, and Joan pays the $6,000 balance of her bill from University X with a combination of her student loan and her savings. Filing taxes for 2012 late Joan does not report any portion of the scholarship as income on her tax return. Filing taxes for 2012 late In figuring the amount of either education credit (American opportunity or lifetime learning), Joan must reduce her qualified education expenses by the amount of the scholarship ($2,000) because she excluded the entire scholarship from her income. Filing taxes for 2012 late The student loan is not tax-free educational assistance, so she does not need to reduce her qualified expenses by any part of the loan proceeds. Filing taxes for 2012 late Joan is treated as having paid $1,000 in qualified education expenses ($3,000 tuition – $2,000 scholarship). Filing taxes for 2012 late Example 2. Filing taxes for 2012 late The facts are the same as in Example 1, except that Joan reports her entire scholarship as income on her tax return. Filing taxes for 2012 late Because Joan reported the entire $2,000 scholarship in her income, she does not need to reduce her qualified education expenses. Filing taxes for 2012 late Joan is treated as having paid $3,000 in qualified education expenses. Filing taxes for 2012 late Coordination with Pell grants and other scholarships. Filing taxes for 2012 late   In some cases, you may be able to reduce your tax liability by including scholarships in income. Filing taxes for 2012 late If you are claiming an education credit for a claimed dependent who received a scholarship, you may be able to reduce your tax liability if the student includes the scholarship in income. Filing taxes for 2012 late The scholarship must be one that may (by its terms) be applied to expenses (such as room and board) other than qualified education expenses. Filing taxes for 2012 late Example 1—No scholarship. Filing taxes for 2012 late Bill Pass, age 28 and unmarried, enrolled full-time in 2013 as a first-year student at a local college to earn a degree in law enforcement. Filing taxes for 2012 late This was his first year of postsecondary education. Filing taxes for 2012 late During 2013, he paid $5,600 for his qualified education expenses and $4,400 for his room and board for the fall 2013 semester. Filing taxes for 2012 late He and the college meet all the requirements for the American opportunity credit. Filing taxes for 2012 late Bill's AGI and his MAGI, for purposes of figuring his credit, are $30,000. Filing taxes for 2012 late Bill takes the standard deduction of $5,950 and personal exemption of $3,800, reducing his AGI to taxable income of $20,250. Filing taxes for 2012 late His income tax liability, before credits, is $2,599 and Bill claims no credits other than the American opportunity credit. Filing taxes for 2012 late He figures his American opportunity credit based on qualified education expenses of $4,000, which results in a credit of $2,500 and tax after credits of $99. Filing taxes for 2012 late Example 2—Scholarship excluded from income. Filing taxes for 2012 late The facts are the same as in Example 1—No scholarship, except that Bill was awarded a $5,600 scholarship. Filing taxes for 2012 late Under the terms of his scholarship, it may be used to pay any educational expenses, including room and board. Filing taxes for 2012 late If Bill excludes the scholarship from income, he will be deemed (for purposes of computing his education credit) to have used the scholarship to pay for tuition, required fees, and course materials. Filing taxes for 2012 late His adjusted qualified education expenses will be zero and he will not have an education credit. Filing taxes for 2012 late Therefore, Bill's tax after credits would be $2,599. Filing taxes for 2012 late Example 3—Scholarship partially included in income. Filing taxes for 2012 late The facts are the same as in Example 2—Scholarship excluded from income. Filing taxes for 2012 late If, unlike Example 2, Bill includes $4,000 of the scholarship in income, he will be deemed to have used that amount to pay for room and board. Filing taxes for 2012 late The remaining $1,600 of the $5,600 scholarship will reduce his qualified education expenses and his adjusted qualified education expenses will be $4,000. Filing taxes for 2012 late Bill's AGI will increase to $34,000, his taxable income will increase to $24,250, and his tax before credits will increase to $3,199. Filing taxes for 2012 late Based on his adjusted qualified education expenses of $4,000, Bill would be able to claim an American opportunity tax credit of $2,500 and his tax after credits would be $699. Filing taxes for 2012 late Expenses That Do Not Qualify Qualified education expenses do not include amounts paid for: Insurance, Medical expenses (including student health fees), Room and board, Transportation, or Similar personal, living, or family expenses. Filing taxes for 2012 late This is true even if the amount must be paid to the institution as a condition of enrollment or attendance. Filing taxes for 2012 late Sports, games, hobbies, and noncredit courses. Filing taxes for 2012 late   Qualified education expenses generally do not include expenses that relate to any course of instruction or other education that involves sports, games or hobbies, or any noncredit course. Filing taxes for 2012 late However, if the course of instruction or other education is part of the student's degree program, these expenses can qualify. Filing taxes for 2012 late Comprehensive or bundled fees. Filing taxes for 2012 late   Some eligible educational institutions combine all of their fees for an academic period into one amount. Filing taxes for 2012 late If you do not receive or do not have access to an allocation showing how much you paid for qualified education expenses and how much you paid for personal expenses, such as those listed earlier, contact the institution. Filing taxes for 2012 late The institution is required to make this allocation and provide you with the amount you paid (or were billed) for qualified education expenses on Form 1098-T, Tuition Statement. Filing taxes for 2012 late See Figuring the Credit , later, for more information about Form 1098-T. Filing taxes for 2012 late Who Is an Eligible Student To claim the American opportunity credit, the student for whom you pay qualified education expenses must be an eligible student. Filing taxes for 2012 late This is a student who meets all of the following requirements. Filing taxes for 2012 late The student did not have expenses that were used to figure an American opportunity credit in any 4 earlier tax years. Filing taxes for 2012 late This includes any tax year(s) in which you claimed the Hope Scholarship Credit for the same student. Filing taxes for 2012 late The student had not completed the first 4 years of postsecondary education (generally, the freshman, sophomore, junior, and senior years of college) before 2013. Filing taxes for 2012 late For at least one academic period beginning in 2013, the student was enrolled at least half-time in a program leading to a degree, certificate, or other recognized educational credential. Filing taxes for 2012 late The student has not been convicted of any federal or state felony for possessing or distributing a controlled substance as of the end of 2013. Filing taxes for 2012 late These requirements are also shown in Figure 2-2, Who is an Eligible Student for the American Opportunity Credit , later. Filing taxes for 2012 late Completion of first 4 years. Filing taxes for 2012 late   A student has completed the first 4 years of postsecondary education if the institution at which the student is enrolled awards the student 4 years of academic credit at that institution for coursework completed by the student before 2013. Filing taxes for 2012 late This student generally would not be an eligible student for purposes of the American opportunity credit. Filing taxes for 2012 late Exception. Filing taxes for 2012 late   Any academic credit awarded solely on the basis of the student's performance on proficiency examinations is disregarded in determining whether the student has completed 4 years of postsecondary education. Filing taxes for 2012 late Enrolled at least half-time. Filing taxes for 2012 late   A student was enrolled at least half-time if the student was taking at least half the normal full-time work load for his or her course of study. Filing taxes for 2012 late   The standard for what is half of the normal full-time work load is determined by each eligible educational institution. Filing taxes for 2012 late However, the standard may not be lower than any of those established by the U. Filing taxes for 2012 late S. Filing taxes for 2012 late Department of Education under the Higher Education Act of 1965. Filing taxes for 2012 late Please click here for the text description of the image. Filing taxes for 2012 late Figure 2-2 Example 1. Filing taxes for 2012 late Mack graduated from high school in June 2012. Filing taxes for 2012 late In September, he enrolled in an undergraduate degree program at College U, and attended full-time for both the 2012 fall and 2013 spring semesters. Filing taxes for 2012 late For the 2013 fall semester, Mack was enrolled less than half-time. Filing taxes for 2012 late Because Mack was enrolled in an undergraduate degree program on at least a half-time basis for at least one academic period that began during 2012 and at least one academic period that began during 2013, he is an eligible student for tax years 2012 and 2013 (including the 2013 fall semester when he enrolled at College U on less than a half-time basis). Filing taxes for 2012 late Example 2. Filing taxes for 2012 late After taking classes at College V on a part-time basis for a few years, Shelly became a full-time student for the 2013 spring semester. Filing taxes for 2012 late College V classified Shelly as a second-semester senior (fourth year) for the 2013 spring semester and as a first-semester graduate student (fifth year) for the 2013 fall semester. Filing taxes for 2012 late Because College V did not classify Shelly as having completed the first 4 years of postsecondary education as of the beginning of 2013, Shelly is an eligible student for tax year 2013. Filing taxes for 2012 late Therefore, the qualified education expenses paid for the 2013 spring semester and the 2013 fall semester are taken into account in calculating the American opportunity credit for 2013. Filing taxes for 2012 late Example 3. Filing taxes for 2012 late During the 2012 fall semester, Larry was a high school student who took classes on a half-time basis at College X. Filing taxes for 2012 late Larry was not enrolled as part of a degree program at College X because College X only admits students to a degree program if they have a high school diploma or equivalent. Filing taxes for 2012 late Because Larry was not enrolled in a degree program at College X during 2012, Larry was not an eligible student for tax year 2012. Filing taxes for 2012 late Example 4. Filing taxes for 2012 late The facts are the same as in Example 3. Filing taxes for 2012 late During the 2013 spring semester, Larry again attended College X but not as part of a degree program. Filing taxes for 2012 late Larry graduated from high school in June 2013. Filing taxes for 2012 late For the 2013 fall semester, Larry enrolled as a full-time student in College X as part of a degree program, and College X awarded Larry credit for his prior coursework at College X. Filing taxes for 2012 late Because Larry was enrolled in a degree program at College X for the 2013 fall term on at least a half-time basis, Larry is an eligible student for all of tax year 2013. Filing taxes for 2012 late Therefore, the qualified education expenses paid for classes taken at College X during both the 2013 spring semester (during which Larry was not enrolled in a degree program) and the 2013 fall semester are taken into account in computing any American opportunity credit. Filing taxes for 2012 late Example 5. Filing taxes for 2012 late Dee graduated from high school in June 2012. Filing taxes for 2012 late In January 2013, Dee enrolled in a 1-year postsecondary certificate program on a full-time basis to obtain a certificate as a travel agent. Filing taxes for 2012 late Dee completed the program in December 2013, and was awarded a certificate. Filing taxes for 2012 late In January 2014, she enrolled in a 1-year postsecondary certificate program on a full-time basis to obtain a certificate as a computer programmer. Filing taxes for 2012 late Dee is an eligible student for both tax years 2013 and 2014 because she meets the degree requirement, the work load requirement, and the year of study requirement for those years. Filing taxes for 2012 late Who Can Claim a Dependent's Expenses If there are qualified education expenses for your dependent during a tax year, either you or your dependent, but not both of you, can claim an American opportunity credit for your dependent's expenses for that year. Filing taxes for 2012 late For you to claim an American opportunity credit for your dependent's expenses, you must also claim an exemption for your dependent. Filing taxes for 2012 late You do this by listing your dependent's name and other required information on Form 1040 (or Form 1040A), line 6c. Filing taxes for 2012 late IF you. Filing taxes for 2012 late . Filing taxes for 2012 late . Filing taxes for 2012 late THEN only. Filing taxes for 2012 late . Filing taxes for 2012 late . Filing taxes for 2012 late claim an exemption on  your tax return for a  dependent who is an  eligible student you can claim the American opportunity credit based on that dependent's expenses. Filing taxes for 2012 late The dependent cannot claim the credit. Filing taxes for 2012 late do not claim an exemption on your tax return for a dependent who is an eligible student (even if entitled to the exemption) the dependent can claim the American opportunity credit. Filing taxes for 2012 late You cannot claim the credit based on this dependent's expenses. Filing taxes for 2012 late Expenses paid by dependent. Filing taxes for 2012 late   If you claim an exemption on your tax return for an eligible student who is your dependent, treat any expenses paid (or deemed paid) by your dependent as if you had paid them. Filing taxes for 2012 late Include these expenses when figuring the amount of your American opportunity credit. Filing taxes for 2012 late    Qualified education expenses paid directly to an eligible educational institution for your dependent under a court-approved divorce decree are treated as paid by your dependent. Filing taxes for 2012 late Expenses paid by you. Filing taxes for 2012 late   If you claim an exemption for a dependent who is an eligible student, only you can include any expenses you paid when figuring the amount of the American opportunity credit. Filing taxes for 2012 late If neither you nor anyone else claims an exemption for the dependent, only the dependent can include any expenses you paid when figuring the American opportunity credit. Filing taxes for 2012 late Expenses paid by others. Filing taxes for 2012 late   Someone other than you, your spouse, or your dependent (such as a relative or former spouse) may make a payment directly to an eligible educational institution to pay for an eligible student's qualified education expenses. Filing taxes for 2012 late In this case, the student is treated as receiving the payment from the other person and, in turn, paying the institution. Filing taxes for 2012 late If you claim an exemption on your tax return for the student, you are considered to have paid the expenses. Filing taxes for 2012 late Example. Filing taxes for 2012 late In 2013, Ms. Filing taxes for 2012 late Allen makes a payment directly to an eligible educational institution for her grandson Todd's qualified education expenses. Filing taxes for 2012 late For purposes of claiming an American opportunity credit, Todd is treated as receiving the money from his grandmother and, in turn, paying his qualified education expenses himself. Filing taxes for 2012 late Unless an exemption for Todd is claimed on someone else's 2013 tax return, only Todd can use the payment to claim an American opportunity credit. Filing taxes for 2012 late If anyone, such as Todd's parents, claims an exemption for Todd on his or her 2013 tax return, whoever claims the exemption may be able to use the expenses to claim an American opportunity credit. Filing taxes for 2012 late If anyone else claims an exemption for Todd, Todd cannot claim an American opportunity credit. Filing taxes for 2012 late Tuition reduction. Filing taxes for 2012 late    When an eligible educational institution provides a reduction in tuition to an employee of the institution (or spouse or dependent child of an employee), the amount of the reduction may or may not be taxable. Filing taxes for 2012 late If it is taxable, the employee is treated as receiving a payment of that amount and, in turn, paying it to the educational institution on behalf of the student. Filing taxes for 2012 late For more information on tuition reductions, see Qualified Tuition Reduction in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions. Filing taxes for 2012 late Figuring the Credit The amount of the American opportunity credit (per eligible student) is the sum of: 100% of the first $2,000 of qualified education expenses you paid for the eligible student, and 25% of the next $2,000 of qualified education expenses you paid for that student. Filing taxes for 2012 late The maximum amount of American opportunity credit you can claim in 2013 is $2,500 multiplied by the number of eligible students. Filing taxes for 2012 late You can claim the full $2,500 for each eligible student for whom you paid at least $4,000 of adjusted qualified education expenses. Filing taxes for 2012 late However, the credit may be reduced based on your MAGI. Filing taxes for 2012 late See Effect of the Amount of Your Income on the Amount of Your Credit , later. Filing taxes for 2012 late Example. Filing taxes for 2012 late Jack and Kay Ford are married and file a joint tax return. Filing taxes for 2012 late For 2013, they claim an exemption for their dependent daughter on their tax return. Filing taxes for 2012 late Their MAGI is $70,000. Filing taxes for 2012 late Their daughter is in her junior (third) year of studies at the local university. Filing taxes for 2012 late Jack and Kay paid qualified education expenses of $4,300 in 2013. Filing taxes for 2012 late Jack and Kay, their daughter, and the local university meet all of the requirements for the American opportunity credit. Filing taxes for 2012 late Jack and Kay can claim a $2,500 American opportunity credit in 2013. Filing taxes for 2012 late This is 100% of the first $2,000 of qualified education expenses, plus 25% of the next $2,000. Filing taxes for 2012 late Form 1098-T. Filing taxes for 2012 late   To help you figure your American opportunity credit, the student should receive Form 1098-T, Tuition Statement. Filing taxes for 2012 late Generally, an eligible educational institution (such as a college or university) must send Form 1098-T (or acceptable substitute) to each enrolled student by January 31, 2014. Filing taxes for 2012 late An institution may choose to report either payments received (box 1), or amounts billed (box 2), for qualified education expenses. Filing taxes for 2012 late However, the amounts in boxes 1 and 2 of Form 1098-T might be different than what you paid. Filing taxes for 2012 late When figuring the credit, use only the amounts you paid or are deemed to have paid in 2013 for qualified education expenses. Filing taxes for 2012 late   In addition, Form 1098-T should give other information for that institution, such as adjustments made for prior years, the amount of scholarships or grants, reimbursements or refunds, and whether the student was enrolled at least half-time or was a graduate student. Filing taxes for 2012 late    The eligible educational institution may ask for a completed Form W-9S, Request for Student's or Borrower's Taxpayer Identification Number and Certification, or similar statement to obtain the student's name, address, and taxpayer identification number. Filing taxes for 2012 late Effect of the Amount of Your Income on the Amount of Your Credit The amount of your American opportunity credit is phased out (gradually reduced) if your MAGI is between $80,000 and $90,000 ($160,000 and $180,000 if you file a joint return). Filing taxes for 2012 late You cannot claim an American opportunity credit if your MAGI is $90,000 or more ($180,000 or more if you file a joint return). Filing taxes for 2012 late Modified adjusted gross income (MAGI). Filing taxes for 2012 late   For most taxpayers, MAGI is adjusted gross income (AGI) as figured on their federal income tax return. Filing taxes for 2012 late MAGI when using Form 1040A. Filing taxes for 2012 late   If you file Form 1040A, your MAGI is the AGI on line 22 of that form. Filing taxes for 2012 late MAGI when using Form 1040. Filing taxes for 2012 late   If you file Form 1040, your MAGI is the AGI on line 38 of that form, modified by adding back any: Foreign earned income exclusion, Foreign housing exclusion, Foreign housing deduction, Exclusion of income by bona fide residents of American Samoa, and Exclusion of income by bona fide residents of Puerto Rico. Filing taxes for 2012 late You can use Worksheet 2-1, next, to figure your MAGI. Filing taxes for 2012 late    Worksheet 2-1. Filing taxes for 2012 late MAGI for the American Opportunity Credit 1. Filing taxes for 2012 late Enter your adjusted gross income  (Form 1040, line 38)   1. Filing taxes for 2012 late   2. Filing taxes for 2012 late Enter your foreign earned income exclusion and/or housing exclusion (Form 2555, line 45, or Form 2555-EZ, line 18)   2. Filing taxes for 2012 late       3. Filing taxes for 2012 late Enter your foreign housing deduction (Form 2555, line 50)   3. Filing taxes for 2012 late       4. Filing taxes for 2012 late Enter the amount of income from Puerto Rico you are excluding   4. Filing taxes for 2012 late       5. Filing taxes for 2012 late Enter the amount of income from American Samoa you are excluding (Form 4563, line 15)   5. Filing taxes for 2012 late       6. Filing taxes for 2012 late Add the amounts on lines 2, 3, 4, and 5   6. Filing taxes for 2012 late   7. Filing taxes for 2012 late Add the amounts on lines 1 and 6. Filing taxes for 2012 late  This is your modified adjusted  gross income. Filing taxes for 2012 late Enter here and  on Form 8863, line 3   7. Filing taxes for 2012 late   Phaseout. Filing taxes for 2012 late   If your MAGI is within the range of incomes where the credit must be reduced, you will figure your reduced credit using lines 2-7, of Form 8863, Part I. Filing taxes for 2012 late The same method is shown in the following example. Filing taxes for 2012 late Example. Filing taxes for 2012 late You are filing a joint return and your MAGI is $165,000. Filing taxes for 2012 late In 2013, you paid $5,000 of qualified education expenses. Filing taxes for 2012 late You figure a tentative American opportunity credit of $2,500 (100% of the first $2,000 of qualified education expenses, plus 25% of the next $2,000 of qualified education expenses). Filing taxes for 2012 late Because your MAGI is within the range of incomes where the credit must be reduced, you must multiply your tentative credit ($2,500) by a fraction. Filing taxes for 2012 late The numerator of the fraction is $180,000 (the upper limit for those filing a joint return) minus your MAGI. Filing taxes for 2012 late The denominator is $20,000, the range of incomes for the phaseout ($160,000 to $180,000). Filing taxes for 2012 late The result is the amount of your phased out (reduced) American opportunity credit ($1,875). Filing taxes for 2012 late      $2,500 × $180,000 − $165,000  $20,000 = $1,875   Refundable Part of Credit Forty percent of the American opportunity credit is refundable for most taxpayers. Filing taxes for 2012 late However, if you were under age 24 at the end of 2013 and the conditions listed below apply to you, you cannot claim any part of the American opportunity credit as a refundable credit on your tax return. Filing taxes for 2012 late Instead, your allowed credit (figured on Form 8863, Part II) will be used to reduce your tax as a nonrefundable credit only. Filing taxes for 2012 late You do not qualify for a refund if items 1 (a, b, or c), 2, and 3 below apply to you. Filing taxes for 2012 late You were: Under age 18 at the end of 2013, or Age 18 at the end of 2013 and your earned income (defined below) was less than one-half of your support (defined below), or Over age 18 and under age 24 at the end of 2013 and a full-time student (defined below) and your earned income (defined below) was less than one-half of your support (defined below). Filing taxes for 2012 late At least one of your parents was alive at the end of 2013. Filing taxes for 2012 late You are filing a return as single, head of household, qualifying widow(er), or married filing separately for 2013. Filing taxes for 2012 late Earned income. Filing taxes for 2012 late   Earned income includes wages, salaries, professional fees, and other payments received for personal services actually performed. Filing taxes for 2012 late Earned income includes the part of any scholarship or fellowship that represents payment for teaching, research, or other services performed by the student that are required as a condition for receiving the scholarship or fellowship. Filing taxes for 2012 late Earned income does not include that part of the compensation for personal services rendered to a corporation which represents a distribution of earnings or profits rather than a reasonable allowance as compensation for the personal services actually rendered. Filing taxes for 2012 late   If you are a sole proprietor or a partner in a trade or business in which both personal services and capital are material income-producing factors, earned income also includes a reasonable allowance for compensation for personal services, but not more than 30% of your share of the net profits from that trade or business (after subtracting the deduction for one-half of self-employment tax). Filing taxes for 2012 late However, if capital is not an income-producing factor and your personal services produced the business income, the 30% limit does not apply. Filing taxes for 2012 late Support. Filing taxes for 2012 late   Your support includes food, shelter, clothing, medical and dental care, education, and the like. Filing taxes for 2012 late Generally, the amount of the item of support will be the amount of expenses incurred by the one furnishing such item. Filing taxes for 2012 late If the item of support is in the form of property or lodging, measure the amount of such item of support by its fair market value. Filing taxes for 2012 late However, a scholarship received by you is not considered support if you are a full-time student. Filing taxes for 2012 late See Publication 501 for details. Filing taxes for 2012 late Full-time student. Filing taxes for 2012 late   You are a full-time student for 2013 if during any part of any 5 calendar months during the year you were enrolled as a full-time student at an eligible educational institution (defined earlier), or took a full-time, on-farm training course given by such an institution or by a state, county, or local government agency. Filing taxes for 2012 late Claiming the Credit You claim the American opportunity credit by completing Form 8863 and submitting it with your Form 1040 or 1040A. Filing taxes for 2012 late Enter the nonrefundable part of the credit on Form 1040, line 49, or on Form 1040A, line 31. Filing taxes for 2012 late Enter the refundable part of the credit on Form 1040, line 66, or on Form 1040A, line 40. Filing taxes for 2012 late A filled-in Form 8863 is shown at the end of this publication. Filing taxes for 2012 late Note. Filing taxes for 2012 late In Appendix A. Filing taxes for 2012 late at the end of this publication, there is an example illustrating the use of Form 8863 when both the American opportunity credit and the lifetime learning credit are claimed on the same tax return. Filing taxes for 2012 late Prev  Up  Next   Home   More Online Publications