See Form 8880, Credit for Qualified Retirement Savings Contributions, for more information. It does not include on-the-job training courses, correspondence schools, or schools offering courses only through the Internet. Took a full-time, on-farm training course given by a school or a state, county, or local government agency.Ī school includes technical, trade, and mechanical schools.Were enrolled as a full-time student at a school, or.You were a student if during any part of 5 calendar months of the tax year you: Not claimed as a dependent on another person’s return, and.You're eligible for the credit if you're:
You may be able to take a tax credit for making eligible contributions to your IRA or employer-sponsored retirement plan. Also, you may be eligible for a credit for contributions to your Achieving a Better Life Experience (ABLE) account, if you’re the designated beneficiary. Check out the 2022 cost-of-living adjustments for retirement plans and IRAs.
