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Form 8863 Department of the Treasury Internal Revenue Service Education Credits (American Opportunity and Lifetime Learning Credits) Attach to Form 1040 or 1040-SR. Go to www.irs.gov/Form8863 for instructions and the latest information. OMB No. 1545-0074 2021 Attachment Sequence No. 50 Name(s) shown on return Your social security number ! CAUTION Complete a separate Part III on page 2 for each student for whom you’re claiming either credit before you complete Parts I and II. Part I Refundable American Opportunity Credit 1 After completing Part III for each student, enter the total of all amounts from all Parts III, line 30 . . 1 2 Enter: $180,000 if married filing jointly; $90,000 if single, head of household, or qualifying widow(er) . . . . . . . . . . . . . . . . . . 2 3 Enter the amount from Form 1040 or 1040-SR, line 11. If you’re filing Form 2555 or 4563, or you’re excluding income from Puerto Rico, see Pub. 970 for the amount to enter . . . . . . . . . . . . . . . . . . . 3 4 Subtract line 3 from line 2. If zero or less, stop; you can’t take any education credit . . . . . . . . . . . . . . . . . . . . . . . . 4 5 Enter: $20,000 if married filing jointly; $10,000 if single, head of household, or qualifying widow(er) . . . . . . . . . . . . . . . . . . . 5 6 If line 4 is: • Equal to or more than line 5, enter 1.000 on line 6 . . . . . . . . . . . . . • Less than line 5, divide line 4 by line 5. Enter the result as a decimal (rounded to at least three places) . . . . . . . . . . . . . . . . . . . . . . } . . . 6 . 7 Multiply line 1 by line 6. Caution: If you were under age 24 at the end of the year and meet the conditions described in the instructions, you can’t take the refundable American opportunity credit; skip line 8, enter the amount from line 7 on line 9, and check this box . . . . . . . .

7 8 Refundable American opportunity credit. Multiply line 7 by 40% (0.40). Enter the amount here and on Form 1040 or 1040-SR, line 29. Then go to line 9 below. . . . . . . . . . . . . . . 8 Part II Nonrefundable Education Credits 9 Subtract line 8 from line 7. Enter here and on line 2 of the Credit Limit Worksheet (see instructions) . 9 10 After completing Part III for each student, enter the total of all amounts from all Parts III, line 31. If zero, skip lines 11 through 17, enter -0- on line 18, and go to line 19 . . . . . . . . . . . 10 11 Enter the smaller of line 10 or $10,000 . . . . . . . . . . . . . . . . . . . . . 11 12 Multiply line 11 by 20% (0.20) . . . . . . . . . . . . . . . . . . . . . . . . 12 13 Enter: $180,000 if married filing jointly; $90,000 if single, head of household, or qualifying widow(er) . . . . . . . . . . . . . . . . . . . 13 14 Enter the amount from Form 1040 or 1040-SR, line 11. If you're filing Form 2555 or 4563, or you’re excluding income from Puerto Rico, see Pub. 970 for the amount to enter . . . . . . . . . . . . . . . . . . . 14 15 Subtract line 14 from line 13. If zero or less, skip lines 16 and 17, enter -0- on line 18, and go to line 19 . . . . . . . . . . . . . . . . . 15 16 Enter: $20,000 if married filing jointly; $10,000 if single, head of household, or qualifying widow(er) . . . . . . . . . . . . . . . . . . . 16 17 If line 15 is: • Equal to or more than line 16, enter 1.000 on line 17 and go to line 18 • Less than line 16, divide line 15 by line 16. Enter the result as a decimal (rounded to at least three places) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

17 . 18 Multiply line 12 by line 17. Enter here and on line 1 of the Credit Limit Worksheet (see instructions) 18 19 Nonrefundable education credits. Enter the amount from line 7 of the Credit Limit Worksheet (see instructions) here and on Schedule 3 (Form 1040), line 3 . . . . . . . . . . . . . . . 19 For Paperwork Reduction Act Notice, see your tax return instructions. Cat. No. 25379M Form 8863 (2021) Dave and Valerie Jones 001 00 0000 2,500 180,000 130,000 50,000 20,000 2,500 1,000 1,500 7,000 7,000 1,400 180,000 1 000 1 000 130,000 50,000 20,000 1,400 1,003 Publication 970 (2021) Page 77