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Can I claim the retirement savings contribution credit if I was a full time student for 5 months?

It asks me if I was a FT student for at least 5 months, so I selected yes, but then it says I can't claim it because I was a student for  more than 5 months.  It seems like I should be able to claim it, but the program won't let me.
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4 Replies

Can I claim the retirement savings contribution credit if I was a full time student for 5 months?

Can I claim the retirement savings contribution credit if I was a full time student for 5 months?

Unfortunately, the IRS says you are not eligible for this credit.

https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-savings-contributions-save...   Check this site for details.

The site states: 

"Who's eligible for the credit?

You're eligible for the credit if you're:

  1. Age 18 or older,
  2. Not claimed as a dependent on another person’s return, and
  3. Not a student.

You were a student if during any part of 5 calendar months of the tax year you:

  • Were enrolled as a full-time student at a school, or
  • Took a full-time, on-farm training course given by a school or a state, county, or local government agency."
joypark015
Returning Member

Can I claim the retirement savings contribution credit if I was a full time student for 5 months?

Just want to clarify — is 5 months equivalent to one semester?

Can I claim the retirement savings contribution credit if I was a full time student for 5 months?

Replying to your question "Just want to clarify — is 5 months equivalent to one semester?"

That is not what the question it is asking, nor is it what the IRS specifies as the criteria.

The IRS criteria are listed in my previous response.  I will rephrase what it says:

It says if you are NOT a student you may be eligible.  So to be eligible, you must not be a student.

In part, it defines a student as "You were a student if during any part of 5 calendar months of the tax year you Were enrolled as a full-time student at a school" . . .

Thus, using these guidelines, answer the question - Were you a student.

2 Previous responses said NO.

 

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