You may be able to take a tax credit for making eligible contributions to your IRA or employer-sponsored retirement plan. And, beginning in 2018, if you’re the designated beneficiary, you may be eligible for a credit for contributions to your Achieving a Better Life Experience (ABLE) account.
Who’s Eligible For The Credit?
You’re eligible for the credit if you’re:
- Age 18 or older,
- Not claimed as a dependent on another person’s return, and
- Not a student.
You were a student if during any part of 5 calendar months of the tax year you:
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