Appendix A (Continued)--Form 8863 Education Credits (Hope and Lifetime Learning Credits) 2008

• Name(s) shown on return field contains Dave and Valerie Jones
• Your social security number field contains 987-00-6543
• Under Part I: Hope Credit:
• • 1a. Student's name (as shown on page 1 of your tax return:
  • • First name field contains Corey
    • Last name field contains Jones
  • 1b. Student's social security number (as shown on page 1 of your tax return) field contains 137-00-9642
  • 1c. Qualified expenses (see instructions). Do not enter more than $2,400 for each student. field contains 2,400
  • 1d. Enter the smaller of the amount in column (c) or $1,200 field contains 1,200
  • 1e. Add column (c) and column (d) field contains 3,600
  • 1f. Enter one-half of the amount in column (e) field contains 1,800
  • 2. Tentative Hope credit. Add the amounts on line 1, column (f). If you are taking the lifetime learning credit for another student, go to Part II; otherwise, go to Part III field contains 1,800
• Under Part II: Lifetime Learning Credit:
• • 3a. Student's name (as shown on page 1 of your tax return)
  • • First name field contains Sean
    • Last name field contains Jones
  • 3b. Student's social security number (as shown on page 1 of your tax return) field contains 246-00-9731
  • 3c. Qualified expenses (see instructions) field contains 4,800
  • 4. Add the amounts on line 3, column (c), and enter the total field contains 4,800
  • 5. Enter the smaller of line 4 or $10,000 field contains 4,800
  • 6. Tentative lifetime learning credit. Multiply line 5 by 20% (.20) and go to Part III field contains 960
• Under Part III: Allowable Education Credits:
• • 7. Tentative education credits. Add lines 2 and 6 field contains 2,760
  • 8. Enter: $116,000 if married filing jointly; $58,000 if single, head of household, or qualifying widow(er) field contains 116,000
  • 9. Enter the amount from Form 1040, line 38, or Form 1040A, line 22 (Footnote: See Publication 970 for the amount to enter if you are filing Form 2555, 2555-EZ, or 4563 or you are excluding income from Puerto Rico) field contains 99,000
  • 12. Subtract line 9 from line 8. If zero or less, stop; you cannot take any education credits field contains 17,000
  • 11. Enter: $20,000 if married filing jointly; $10,000 if single, head of household, or qualifying widow(er) field contains 20,000
  • 12. If line 10 is equal to or more than line 11, enter the amount from line 7 on line 13 and go to line 14. If line 10 is less than line 11, divide line 10 by line 11. Enter the result as a decimal (rounded to at least three places) field contains .850
  • 13. Multiply line 7 by line 12 field contains 2,219
  • 14. Enter the amount from Form 1040, line 46, or Form 1040A, line 28 field contains 10,719
  • 15. Enter the total, if any, of your credits from Form 1040, lines 47 through 49, or Form 1040A, lines 29 and 30 field contains 0
  • 16. Subtract line 15 from line 14. If zero or less, stop; you cannot take any education credits field contains 10,719
  • 17. Education credits. Enter the smaller of line 13 or line 16 here and on Form 1040, line 50, or Form 1040A, line 31 field contains 2,219

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