- This publication explains tax benefits that may be available to you if you are saving for or paying education costs for yourself or, in many cases, another student who is a member of your immediate family. Most benefits apply only to higher education.. - What is in this publication. Chapter 1 explains the tax treatment of various types of educationalistance, in- cluding scholarships, fellowship grants, and tuition reduc- tions. Two tax credits for which you may be eligible are ex- plained in chapter 2 and chapter 3. These benefits, which reduce the amount of .Review the American Opportunity Tax Credit and Publication 519, U.S. Tax Guide for Aliens for de.s. Tax credits, deductions and savings plans can help taxpayers with their expenses for higher education. A tax credit reduces the amount of income tax you may have to pay..Educational ins.ution 's EIN required. To claim the American opportunity credit, you must provide the educational ins.ution 's employer identification number EIN on your Form 8863. You should be able to obtain this information from Form 1098-T or the educational ins.ution. See chapter 2 . Form 8862 may be required..
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Tax Benefits for Education This publication explains tax benefits that may be availa-ble to you if you are saving for or paying education costs.
Form 1098-T requirement. For tax years beginning after , generally tax year 2016 returns for most taxpayers, the law requires a taxpayer or a dependent .
Publication 970 - Tax Benefits for Education - American Opportunity For 2016, there are two tax credits available to help you offset the costs of higher education by reducing the amount of your income tax..
Read IRS Publication 970, Tax Benefits for Education to see which federal income tax benefits might apply to your situation. Here are some highlights: Tax Credits for .