Question

Roth IRA contributions deduction and Education Tax Credit

Forum|Forum|5 years ago
February 5, 2021
1 reply
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Hello all,

The requirements for the Roth IRA contribution deduction is being over 18, not a full-time student, nobody can claim you as a dependent and an income threshold. I meet all of these requirements. Under the education tax credit which TurboTax says I qualify for, it asks if I'm a half-time student which is true. The requirements for the education tax credits include being at least a half-time student. TurboTax then lists status as 'Full or at least Half-TIme'. I'm a half-time student, not a full-time student. Under the requirements laid out for both, I should qualify for both but it is insisting that I do not. Is there something against claiming both?

TurboTax Premier Online

D

dmertz

Employee

You are referring to the Retirement Savings Contributions Credit, not a deduction.

These are two independent questions in TurboTax but based on the same information regarding the amount of time you were a student. For the purpose of the Retirement Savings Contributions Credit, you are full-time student of you were a student in any part of each of 5 calendar months of the year.