investigating the changes in several tax credits, forms, and schedules over time. Comparing the following forms from different tax years (2022 and 2021) to find any significant changes.

Form 8863 Education Tax Credit - American Opportunity Tax Credit (AOTC): Specify changes past, present, and future if applicable to this form.
Example of when this AOTC tax credit may apply using professional terms to describe client's scenario
Changes to the form from year A to year B
Changes to areas to consider from year to year
Possible new developments and why they may occur

Form 8863 Education Tax Credit - Lifetime Learning Credit (LLC): Specify changes past, present, and future if applicable to this form.
Example of when this LLC tax credit may apply using professional terms to describe client's scenario
Changes to the form from year A to year B
Changes to areas to consider from year to year
Possible new developments and why they may occur

Schedule 8812 Child Tax Credit: Specify changes past, present future if applicable to this form.
Example of when this child tax credit may apply using professional terms to describe client's scenario
Changes to the form from year A to year B
Changes to areas to consider from year to year
Possible new developments and why they may occur

Schedule 8812 Other Dependent Credit: Specify changes past, present future if applicable to this form.
Example of when this other dependent credit may apply using professional terms to describe client's scenario
Changes to the form from year A to year B
Changes to areas to consider from year to year
Possible new developments and why they may occur

Form 2441 Child and Dependent Care Credit: Specify changes past, present future if applicable to this form.
Example of when this Child and Dependent Care Credit may apply using professional terms to describe client's scenario
Changes to the form from year A to year B
Changes to areas to consider from year to year
Possible new developments and why they may occur

Identify applicable documentation for each of the tax credit categories if applicable (statements from taxpayer(s), other substantiating proof, official IRS tax forms provided to the taxpayer(s), etc.)
Document retention is part of form 8867 for due diligence
Different types of forms or documents depend on the type of tax credit
 Uses citations -Include related IRS publications, IRS articles, tax forms for each year used for comparison, and any other supporting research

Answer rating: 100% (QA)

Form 8863 Education Tax Credit American Opportunity Tax Credit AOTC Professional Scenario Example Suppose a client a fulltime undergraduate student pursuing a degree in a STEM field is eligible for th... View the full answer