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 Schedule 3 Form 1040 SP Additional Credits and Payments Spanish Version 2022

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all right for this video we want to go through a sample form 8863 for education credits and this is going to be for the 2023 tax year now in this scenario we're going to have two students one is claiming the American Opportunity credit and then the other is claiming the lifetime learning credit so we'll go through the full 8863 here and we've also got it as part of the full 1040 for taxpayers so we'll cover all the forms and schedules that are required and then lastly you've got just one slide here covering some Basics on the American Opportunity credit and the lifetime learning credit and then more details on the fact pattern so the American Opportunity tax credit is generally the more favorable credit so this credit covers the first four years of postsecondary education and once you've claimed it four times so for four years you can no longer use it now in order to to be uh claiming this credit you have to be a student pursuing a degree

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