You cannot claim the credit if your MAGI is over $90,000 ($180,000 for joint filers).You receive a reduced amount of the credit if your MAGI is over $80,000 but less than $90,000 (over $160,000 but less than $180,000 for married filing jointly).To claim the full credit, your modified adjusted gross income (MAGI) must be $80,000 or less ($160,000 or less for married filing jointly).To ensure you receive the benefit of the AOTC if you qualify for it, you should timely obtain the required TIN. You may not claim the AOTC on a later original return or an amended return if the TIN is issued on or applied for after the due date of the return (including extensions). A TIN is a Social Security number, an individual taxpayer identification number (ITIN) or an adoption taxpayer identification number (ATIN). You may not claim the AOTC unless you, your spouse (if you are filing a joint return) and the qualifying student have a valid taxpayer identification number (TIN) issued or applied for on or before the due date of the return (including extensions). Valid TIN before the due date of the return See My EITC, CTC/ACTC and/or My AOTC was Disallowed Previously and Now I Want To Claim It Form 8862 for more information. If your AOTC claim was disallowed in a previous tax year, you may need to file Form 8862 PDF before claiming the credit in future tax years. The IRS may also charge you an accuracy or a fraud penalty or you can be banned from claiming the AOTC for two to ten years. If the IRS audits your return and finds your AOTC claim is incorrect and you don’t have the documents to show you qualified, you must pay back the amount of the AOTC you received in error with interest. Make sure you are qualified before claiming the credit and make sure you keep copies of all the documents you used to find out if you qualify and determine the amount of your credit. To claim AOTC, you must complete the Form 8863 PDF and attach the completed form to your tax return. If it isn’t correct or you do not receive the form, contact your school. See qualified education expenses in Publication 970 PDF, Tax Benefits for Education, for more information on what amount to claim.Ĭheck the Form 1098-T to make sure it is correct. But this amount may not be the amount you can claim. The form will have an amount in box 1 to show the amounts received during the year. This statement helps you figure your credit. Generally, students receive a Form 1098-T PDF Tuition Statement, from their school by January 31. To be eligible to claim the AOTC or the lifetime learning credit (LLC), the law requires a taxpayer (or a dependent) to have received Form 1098-T, Tuition Statement, from an eligible educational institution, whether domestic or foreign. For schools that use clock or credit hours and do not have academic terms, the payment period may be treated as an academic period. The schools determine the academic periods. *Academic Period can be semesters, trimesters, quarters or any other period of study such as a summer school session.
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