You elect to claim the Hope credit and you figure the amount to
claim by completing Form 8863.
In Part I, you enter the student's
name and taxpayer identification number (usually a social security
number) and the amount of qualified expenses paid in 2000. You then
complete Part III to compute your total education credits (Hope credit
and lifetime learning credit). The amount on line 18 is the total of
your Hope credit and lifetime learning credit. This is the amount to
enter on line 46 of Form 1040 or line 29 of Form 1040A. Attach the
completed Form 8863 to your return.
An eligible educational institution (such as a college or
university) that received payment of qualified tuition and related
expenses in 2000 generally must issue Form 1098-T,
Tuition Payments
Statement, to each student by February 1, 2001. The information
on Form 1098-T will help you determine whether you can claim an
education tax credit for 2000. The following information should be
included on the 2000 Form 1098-T.
- The name, address, and taxpayer identification number of the
educational institution.
- The name, address, and taxpayer identification number of the
student.
- Whether the student was enrolled for at least half of the
full-time academic workload.
- Whether the student was enrolled exclusively in a
graduate-level program.
The eligible educational institution may ask for a completed
Form W-9S,
Request for Student's or
Borrower's Social Security Number and Certification, or similar
statement to obtain the information needed to complete (2) above.
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