- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
If you make contributions when you are ineligible, they will not be tax deductible. And any balance in the account at the end of the year will be subject to a penalty. Even if you just plan to make a contribution, and immediately remove it to pay a bill, there is no tax benefit because you will not be allowed the tax deduction on your tax return.
‎July 16, 2024
1:58 PM