Message Font: Serif | Sans-Serif
No. of Recommendations: 0
Just saw this article:

Let me start by saying Thanks, Fool and Roy! I never would've heard of that! Gets me at least an extra $200 this year, as I'll be funding a Roth with at least $2000.

Just a couple questions about it:

Is this new in the last year or two? Two years ago (2002), I would've qualified; I used TurboTax that year and it never mentioned it to me. I used 1040EZ, maybe that's why.

What exactly do the income limits mean - is that before or after deductions? I have gross income of about 25K, just above the thresholds for more than 10% credit. Standard deduction will apply, and I also had medical expenses that might itemize to slightly more than the standard (haven't run the numbers yet.)

Finally, is there anything I can do now to nudge myself down into the higher-percentage categories?

Thanks for any advice.
Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.