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March 31, 2024
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Retirement Savings Contribution Credit for a Former Student

  • March 31, 2024
  • 1 reply
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I graduated from college May 6, 2023.  I am a *former* student.  I started a full time job soon thereafter, and contributed to a retirement plan.  No one can claim me as a dependent because I supported myself for more than half the year.  I haven't been a full time student for 9 months now.  I will not be a full time student ever again.  Must I designate myself as a full time student for Tax Year 2023?  I lose the Retirement Savings Contribution Credit if I do!  This seems to violate the spirit of the law IMHO.  Thank you.

    Best answer by Hal_Al

    Q. Must I designate myself as a full time student for Tax Year 2023? 

    A. Yes, if you were in school any part of January 2023 (January to any part of May equals 5 months). 

     

    See the instructions for form 8880.  https://www.irs.gov/pub/irs-pdf/f8880.pdf

    1 reply

    Hal_Al
    Hal_AlAnswer
    Employee
    March 31, 2024

    Q. Must I designate myself as a full time student for Tax Year 2023? 

    A. Yes, if you were in school any part of January 2023 (January to any part of May equals 5 months). 

     

    See the instructions for form 8880.  https://www.irs.gov/pub/irs-pdf/f8880.pdf

    March 31, 2024

    Thank you.  Financially unfortunate for me, but exactly on point.