Form Instructions 8863 North Carolina 2024-2025

Form Instructions 8863 North Carolina: What You Should Know

Taxpayer ID# (IRS) 1098-T (1.00%) You will need to complete Part VIII of Form 1098-T for the Student and use the following information to calculate the amount of student tax credit to be claimed on the student's federal income tax return: the student's taxpayer ID number; the student's name and tax year of return filing; the student's address (the principal place of abode); and, if the student is married but filing separately, the tax year of return filing. (For guidance on filing separately, see Publication 15 and Publication 3 of the Foreign Born Tax Treaty Report.) Pursuant to section 61, line 22, the student paid an amount to an eligible educational institution for qualified tuition expenses. This amount is generally the student's share of qualified tuition expenses. Therefore, an individual student must have met the following test before claiming tax credits for qualified tuition expenses: to be eligible, the qualified tuition expenses paid must be for a tax-favored education.  To claim a tax credit under section 60(a)(1)(B) and (C), an eligible student and the qualified tuition expenses claimed must meet the following conditions: the tuition expenses claimed must be for an educational program at an eligible educational institution; the tuition and qualified education expenses are not includible in the gross income of the student; the student or taxpayer does not take any tax credit under section 59; and the qualified tuition expenses are paid for a taxable year of participation. If you are filing for refunds due to a refund tax on qualified tuition expenses for a student who is an eligible tuition program student, see IRM 20.1.1.19.1. 1You may need to use a tax software app to access the student's taxpayer ID number. 2The 25 penalties for failure to itemize is reduced to 20 if it is more than one month after the due date of a return for which an assessment was made for the tax year of attendance. IRM 20.1.1.7.1.13.2.2. Note: For more information about this penalty, refer to IRM 21.1.1.8.1.

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