Who is eligible for the savers credit?
A-2: Taxpayers who are age 18 or over before the end of their taxable year, other than full-time students or persons claimed as dependents on another taxpayer’s return, are eligible for the credit. For this purpose, students include individuals who, during some part of each of five months during the year, are (a) enrolled at a school that has a regular teaching staff, course of study, and regularly enrolled body of students in attendance, or (b) taking an on-farm training course given by such a school or a state, county, or local government. A student is a full- time student if he or she is enrolled for the number of hours or courses the school considers to be full-time. Q-3: What is the maximum annual contribution eligible for the saver’s credit? A-3: $2,000 per year.
