How to Claim Education Credits?

Reporting education credits

An eligible education institution is required to issue a Form 1098-T, Tuition Statement to each student by January 31 of the year following the year of the academic periods for which the expenses were paid. The Form 1098-T will give you information to help determine whether you can claim an education tax credit.

What tax form to use to claim education credits?

Use Form 8863, Education Credits, to figure your education credit. The Hope credit is figured in Part I of the form and the lifetime learning credit is figured in Part II. Complete Part III of the Form 8863 to determine the amount to enter on line 50 of Form 1040.