- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
You are gainfully employed. So payroll contributions to 401(k)s, 403(b)s and the like are perfectly possible, as are IRA contributions as you have earned income.
However, you don't qualify for the Retirement Savings Contributions Credit if you were a full time student in each of 5 months or more. My hope is (with luck) you'll have too much income next year to qualify for the credit ($33,000 cap in '21).
Good luck and congratulations on starting early to save for retirement!
And, make sure you check out ALL the various education deductions and credits.
‎December 27, 2020
1:53 PM