KrisD15
Expert Alumni

Education

What about your birthdate? 

 

Are you filing Form 2555 or 4563? 

 

SAVER’S CREDIT

However, you can’t take the credit if either of the following applies.

• The amount on Form 1040, 1040-SR, or 1040-NR, line 11, is more than $32,500 ($48,750 if head of household; $65,000 if married filing jointly).

The person(s) who made the qualified contribution or elective deferral

     (a) was born after January 1, 2003;

     (b) is claimed as a dependent on someone else’s 2020 tax return; or

     (c) was a student.

 

 

 CAUTION You’ll need to refigure the amount on Form 1040 or 1040-SR, line 11, if you’re filing Form 2555 or Form 4563

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