Laws.com legal forms guide Form 8917 is a United States Internal Revenue Service tax form used for claiming educational expenses. It is used to determine the deduction amount allowed for qualified educational expenses during a taxable year. The Form 8917 can be obtained through the IRS's website or by obtaining the documents through a local tax office. The tax form is to be filed by the taxpayer claiming an educational tax deduction. Ensure that you qualify for the deduction before filling out the form. Provide the name or names of students that are claiming the educational expense deduction on line 1. Provide each student's social security number and the amount of qualified expenses to be claimed on line 2, and the total amount of all qualified expenses claimed. If only one student's expenses are to be claimed, line 2 will be the same amount as in line 1. Referring to your tax Form 1040 line 22 or Form 1040A line 15, enter this amount on line 3. Referring to tax Form 1040, provide the amounts in lines 23 to 33 plus any adjustments. Put this amount in line 4 of the form 8917. Subtract line 4 from line 3. If the amount is more than $80,000 for an individual or $160,000 for joint filers, you do not qualify for the deduction. If the amount is more than $65,000 or $130,000 for joint filers, select YES in line 6 and choose the smaller of line 2 or $2,000. If your amount is less than this amount, select NO in line 6 and choose the smaller of line 2 or $4,000. Once completed, your Form 8917 is ready to be filed with your entire tax filing packet. As with all tax documents, keep a copy for your records. To watch more videos, please make sure...
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8917 Form: What You Should Know
Here are the basics you need to know. Form 8917 and the Deductions for Students — U.S. News Money May 18, 2024 — If you are a student enrolled in a qualified education program offered at an academic institution under certain conditions, you can claim tax deductions for the tuition costs. In this article, the U.S. News Money publisher discusses Form 8917 and the deductions. What Is Form 8917? — Bankrate.com Aug 25, 2024 — What Is IRS Form 8917? If you are a child of a U.S. dependent who has qualified education expenses, you may be able to claim a tax deduction for the tuition and fees. The definition of qualified education expenses is pretty simple. Form 8917: Tuition and Fees Deduction — U.S. News & World Report Nov 19, 2024 — Form 8917 may help your college education: You could deduct up to 2,500 of tuition and fees. But if your child is one who is eligible for the Earned Income Tax Credit or the Child Tax Credit, that would be additional.
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