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Irs Form 8917

The IRS Form 8917 is used to calculate tax credits for those students, or their parents, who are paying for tuition and fees to a post-secondary education institution, such as a college or university. The tax breaks go to those who make less than $80,000 for a single filing or $160,000 for a joint return. Those who make less than $65,000 ($130,000 joint) are entitled to a refund of $4,000, while those who make more than $65,000, but less than $80,000 receive $2,000. There are no restrictions on the year of college or the part-time versus full-time status of the student.

Fast Facts

  • A parent can claim this benefit if his or her student is claimed as a dependent on his or her tax returns.
  • The deduction is not available to married students, who file individual tax returns.

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