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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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February 13, 2021
3:15 PM