Form 8863, Education Credits (American Opportunity and Lifetime Learning Credits)
Use Form 8863 to figure and claim your education credits, which are based on qualified education expenses paid to an eligible postsecondary educational institution. There are two education credits.
- The American opportunity credit, part of which may be refundable.
- The lifetime learning credit, which is nonrefundable.
A refundable credit can give you a refund for any part of the credit that is more than your total tax. A nonrefundable credit can reduce your tax, but any excess is not refunded to you.
Both of these credits have different rules that can affect your eligibility to claim a specific credit.
IRS Statement on Form 8863, Education Credits -- 12-MAR-2013
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