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Form 886 L

Form 886 L

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Quick guide on how to complete 886 l irs

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Video instructions and help with filling out and completing Form 886 L

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Instructions and help about form 886 l irs

all right for this video I want to go over the IRS form 8863 for Education tax credits and this is going to be for the 2023 tax year so in this sample return we've got a married couple filing a joint return and they have one dependent who is a new student in college and so they're going to claim the American Opportunity tax credit for their daughter so we've got the full 8863 here it's both pages we have page one and two page two is part three so we'll go through the full 8863 and it is part of their full return so we'll look at how these uh credits get reported on the various schedules and then ultimately up to page two of the 1040 we've also got a sample 1098t here from the University and then we've got the 8863 instructions up here and specifically we can reference uh this table here which is quite helpful it shows the different differences between the American Opportunity credit and the lifetime learning credit the cre

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