You elect to claim the Hope credit and you figure the amount to claim by completing Parts I and III of Form 8863. A filled-in Form 8863 is shown in the Illustrated Example at the end of this chapter.

An eligible educational institution (such as a college or university) that received payment of qualified tuition and related expenses in 2001 generally must issue Form 1098-T, Tuition Payments Statement, to each student by February 1, 2002. The information on Form 1098-T will help you determine whether you can claim an education tax credit for 2001. The eligible educational institution may ask for a completed Form W-9S, Request for Student's or Borrower's Social Security Number and Certification, or similar statement to obtain the student's name, address, and taxpayer identification number.

Worksheet 1-1. MAGI for the Hope Credit

1. Enter your adjusted gross income (Form 1040, line 33)		1. $
2. Enter your foreign earned income exclusion (Form 2555, line 40, or Form 2555-EZ, line 18)	2. $
3. Enter your housing exclusion (Form 2555, line 34).	3.
4. Enter the amount of income from Puerto Rico that you are excluding.	4.
5. Enter the amount of income from American Samoa that you are excluding (Form 4563, line 15).	5.
6. Add the amounts on lines 2, 3, 4, and 5.		6.
7. Add the amounts on lines 1 and 6. This is your modified adjusted gross income. Enter this amount on line 10 of your Form 8863.		7. $

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