Filling Out Form 8862

Everything You Need to Know About Filling Out Form 8862

Introduction

Filling out Form 8862, "Information To Claim Certain Credits After Disallowance," can seem daunting, but it's a crucial step for taxpayers who want to reclaim specific tax credits that were previously disallowed. This form is primarily used for claiming the Earned Income Credit (EIC), Child Tax Credit (CTC), Refundable Child Tax Credit (RCTC), Additional Child Tax Credit (ACTC), Credit for Other Dependents (ODC), and the American Opportunity Tax Credit (AOTC). In this guide, we'll walk you through the process of completing Form 8862 and provide you with all the information you need to ensure your tax return's success.

Step-by-Step Guide to Filling Out Form 8862

Part I: All Filers

Enter the Tax Year: Start by entering the tax year for which you are filing this form. For example, if you're filing for the 2024 tax year, enter "2024" on Line 1.

Check the Applicable Credits: Check the box(es) that apply to the credit(s) you are claiming. These include the Child Tax Credit (CTC), Additional Child Tax Credit (ACTC), Earned Income Credit (EIC), and American Opportunity Tax Credit (AOTC).

Part II: Earned Income Credit (EIC)

Reason for Disallowance: If the only reason your EIC was reduced or disallowed was due to incorrectly reported earned income or investment income, check “Yes” on Line 3. If not, check “No”.

Qualifying Child: Indicate whether you (or your spouse, if filing jointly) could be claimed as a qualifying child of another taxpayer for the year entered on Line 1. If “Yes,” you cannot claim the EIC.

Enter Child Information: For each child you are claiming for EIC, enter their names as Child 1, Child 2, and Child 3.

Schedule EIC: Indicate if your completed Schedule EIC shows that you had a qualifying child for the EIC.

Days Lived in the U.S.: Enter the number of days each child lived with you in the United States during the year entered on Line 1.

Birth or Death: If a child was born or died during the year entered on Line 1, enter the month and day of birth or death.

Part III: American Opportunity Tax Credit (AOTC)

Qualifying Expenses: Enter the amount of qualifying expenses paid for each student for whom you are claiming the AOTC.

Tuition and Fees: Enter the amount of tuition and fees paid for each student.

Part IV: Filers Without a Qualifying Child

Days in the U.S.: Enter the number of days during the year your main home was in the United States.

Age Requirements: Enter your age at the end of the year on Line 1.

Dependent Status: Indicate whether you can be claimed as a dependent on another taxpayer’s return.

Where to Send Form 8862

Once you've completed Form 8862, attach it to your tax return and mail it to the IRS. If you received a letter from the IRS requesting Form 8862, use the address provided in that letter. If not, you can send it to the appropriate IRS address based on your state. For a list of IRS addresses by state, visit the IRS Website.

Conclusion

Filling out Form 8862 is a straightforward process if you follow the steps outlined above. By ensuring that you provide accurate information and attach the completed form to your tax return, you can successfully reclaim the tax credits you're eligible for. If you have any questions or need further assistance, don't hesitate to reach out to a tax professional or the IRS.