INSTRUCTIONS : TUITION AND FEES DEDUCTION (Form 8917)
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 I.R.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.
1. Provide the name or names of students that are claiming the educational expense deduction in line 1. Provide each student's social security number and the amount of qualified expenses to be claimed.
2. In line 2, add the total amount of all qualified expenses claimed. (If only one student's expenses are to be claimed, it line 2 will be the same amount as in line 1).
3. Referring to your tax form 1040, line 22, or form 1040A line 15, enter this amount in line 3.
4. Again 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.
5. 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.
6. 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.
7. If your amount is less than this amount, select no in line 6 and choose the smaller of line 2 or $4,000.
8. 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.