FORM 8863 - DISPLAY EXPLAINED - WE RECOMMEND

FORM 8863 - DISPLAY EXPLAINED - WE RECOMMEND

MYTH: The screenshot below shows the total amount of Lifetime Learning Credit (LLC) and/or American Opportunity Tax Credit (AOTC) a return is eligible to claim (i.e. the actual calculation of the education credit).

MYTH BUSTED: The screenshot (and intent of the “We Recommend…” page) shows how each eligible education credit will impact the amount owed or refund due as indicated in the highlighted text below. In many cases, the total calculated education credit amount and the impact the education credit will have on the balance owed/refund due is the same, however, that is not always the case. The “We Recommend…” page is designed to only show how much a balance owed will decrease or how much a refund will increase.

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