• 9. Enter the amount from line 2. field contains 2,500
• 10. Enter: $180,000 if married filing jointly; $90,000 if single, head of household, or qualifying widow(er) field contains 180,000
• 11. Enter the amount from Form 1040, line 38*, or Form 1040A, line 22 field contains 103,000
• 12. Subtract line 11 from line 10. If zero or less, stop; you cannot take any education credit field contains 77,000
• 13. Enter: $20,000 if married filing jointly; $10,000 if single, head of household, or qualifying widow(er) field contains 20,000
• 14. If line 12 is: (bullet) Equal to or more than line 13, enter 1.000 on line 14. (bullet) Less than line 13, divide line 12 by line 13. Enter the result as a decimal (rounded to at least three places) field contains 1.000
• 15. Multiply line 9 by line 14. Caution: If you were under age 24 at the end of the year and meet the conditions in the instructions, you cannot take the refundable American opportunity credit. Skip line 16, enter the amount from line 15 on line 17, and check this box. field contains 2,500
• 16. Refundable American opportunity credit. Multiply line 15 by 40% (.40). Enter the amount here and on Form 1040, line 66, or Form 1040A, line 43. Then go to line 17 below. field contains 1,000
• Under Part V: Nonrefundable Education Credits
• 17. Subtract line 16 from line 15field contains 1,500
• 18. Add line 4 and line 8c. If you have no entry on these lines, skip lines 19 through 24, and enter the amount from line 17 on line 25field contains 1,000
• 19. Enter: $120,000 if married filing jointly; $60,000 if single, head of household, or qualifying widow(er)field contains 120,000
• 20. Enter the amount from Form 1040, line 38*, or Form 1040A, line 22field contains 103,000
• 21. Subtract line 20 from line 19. if zero or less, skip lines 22 and 23, and enter zero on line 24.field contains 17,000
• 22. Enter $20,000 if married filing jointly; $10,000 if single, head of household, or qualifying widow(er)field contains 20,000
• 23. If line 21 is: (bullet) Equal to or more than line 22, enter the amount from line 18 on line 24 and go to line 25. (bullet) Less than line 22, divide line 21 by line 22. Enter the result as a decimal (rounded to at least three places) field contains .850
• 24. Multiply line 18 by line 23field contains 850
• 25. Add line 17 and line 24. If zero, stop; you cannot take any nonrefundable education creditfield contains 2,350
• 26. Enter the amount from Form 1040, line 46, or Form 1040A, line 28field contains 11,631
• 27. Enter the total, if any, of your credits from: (bullet) Form 1040, line 47, 48, and the amount from Schedule R (Form 1040) entered on line 53, (bullet) Form 1040A, lines 29 and 30field contains 0
• 28. Subtract line 27 from line 26. If zero or less, stop; you cannot take any nonrefundable education creditfield contains 11,631
• 29. Nonrefundable education credits. Enter the smaller of line 25 or line 28 here and on Form 1040, line 49, or Form 1040A, line 31.field contains 2,350
• Footnote: If you are filing Form 2555, 2555-EZ, or 4563, or you are excluding income from Puerto Rico, see Pub. 970 for the amount to enter.

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