Education Expenses Worksheet for 2019 Tax Year
Attach a copy of the student's account statement for each semester (accessible via school's oniline portal) to this worksheet.
What credit will be applied?
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Total Qualified Tuition and Fees for Scholarships/Grants:
Qualified Tuition and Fees for AOC/LLC:
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Includes amounts paid in 2019 for Spring 2020 Includes amounts paid in 2019 for Spring 2020 |
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(AOC and LLC) |
(AOC only) |
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Scholarships and Grants: |
Form 1099-Q Distributions: |
Total Qualified Tuition, Fees, Books, and Supplies for scholarships/grants |
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Qualified Tuition, Fees, Books, and Supplies for AOC/LLC |
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Total Grants, Scholarships, and 1099-Q Distributions |
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Before Transferring Income |
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Qualified Expenses Available for Credit |
Total qualified expenses for AOC/LLC that exceed grants and scholarships |
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Taxable Scholarships and Grants |
Total grants and scholarships that exceed qualified expenses |
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After Transferring Income |
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Qualified Expenses Available for Credit |
Total qualified expenses for AOC/LLC that exceed grants and scholarships |
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Taxable Scholarships and Grants |
Total grants and scholarships that exceed qualified expenses |
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Impact on your 2019 tax return
Based on your education expenses, scholarships, and grants reported on your Form 1098-T and information found on your account activity statement from your school, we have filed your education credit in the following manner:
in available qualified educational expenses were included in your tax return on Form 8863 to calculate your education credit.
must be included on the student’s return as scholarship income on Form 1040.
If $2200 or more of scholarships is moved to income, please refer to When is Form 8615 Out of Scope?
must be included on the student’s return as scholarship income on Form 1040.
If $2200 or more of scholarships is moved to income, please refer to When is Form 8615 Out of Scope?
Transferring scholarships and grants to student as income
Are the available education expenses $4,000 or more for AOC or $10,000 or more for LLC?
If yes, there is no benefit in transferring scholarships and/or grants to income.
If no, then do any of the scholarships or grants allow their funds to be used for living expenses?
If yes, there is no benefit in transferring scholarships and/or grants to income.
If no, then do any of the scholarships or grants allow their funds to be used for living expenses?
Use the link below to help you decide.
Which scholarships and grants can be used for living expenses?
Which scholarships and grants can be used for living expenses?
Determining amount of scholarship/grant to transfer to income
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Maximum amount of expenses for calculating creditLine 1
Enter $4,000 for AOC or $10,000 for LLC
Qualified Tuition, Fees, Books, and Supplies for AOC/LLCLine 2
Taken from table above
Expenses that qualify for scholarships/grants but not AOC/LLCLine 3
From table above: total qualified expenses for scholarships/grants minus total qualified expenses for AOC/LLC
Scholarships/Grants not available for living expenses and 1099-Q DistributionsLine 4
Scholarships/grants not available for living expenses that must be used for AOC/LLC expensesLine 5
Line 4 - Line 3, put 0 if negative
Qualified AOC/LLC expenses available for creditLine 6
Line 2 - Line 5. Put 0 if negative.
Scholarship/grants available for transfer to incomeLine 7
Scholarships/grants available for living expenses minus Taxable Scholarships from table above. Put 0 if negative.
Expenses that exceed credit limitLine 8
Line 6 - Line 1. Put 0 if negative.
Remaining expenses that qualify for scholarships/grants but not LLC/AOCLine 9
Line 3 - Line 4. Put 0 if negative.
Amount of scholarships/grants to transfer to student as incomeLine 10
See "Your 2019 tax return included education expenses" for amount to put on return.
Line 7 - Line 8 - Line 9. Put 0 if negative.
Maximum amount of expenses for calculating creditLine 1
Enter $4,000 for AOC or $10,000 for LLC
Qualified Tuition, Fees, Books, and Supplies for AOC/LLCLine 2
Taken from table above
Expenses that qualify for scholarships/grants but not AOC/LLCLine 3
From table above: total qualified expenses for scholarships/grants minus total qualified expenses for AOC/LLC
Scholarships/Grants not available for living expenses and 1099-Q DistributionsLine 4
Scholarships/grants not available for living expenses that must be used for AOC/LLC expensesLine 5
Line 4 - Line 3, put 0 if negative
Qualified AOC/LLC expenses available for creditLine 6
Line 2 - Line 5. Put 0 if negative.
Scholarship/grants available for transfer to incomeLine 7
Scholarships/grants available for living expenses minus Taxable Scholarships from table above. Put 0 if negative.
Expenses that exceed credit limitLine 8
Line 6 - Line 1. Put 0 if negative.
Remaining expenses that qualify for scholarships/grants but not LLC/AOCLine 9
Line 3 - Line 4. Put 0 if negative.
Amount of scholarships/grants to transfer to student as incomeLine 10
See "Your 2019 tax return included education expenses" for amount to put on return.
Line 7 - Line 8 - Line 9. Put 0 if negative.