Q&A: $1500 tax credit for starting IRA?

Question by NayNay00: 00 tax credit for starting IRA?
I’ve already filed my 2010 taxes. But I logged into Mint.com yesterday, and in the margin it gave me a “tip” on how I can get a $ 1500 tax credit for starting an IRA no later than April 15, 2011. Is this true?? And how do I take advantage of it? Does it apply to everyone? I don’t have a retirement account, but I am asking on behalf of myself and my boyfriend who has a 401k.

I can’t seem to find ANYTHING about this online….and you’d think if the gov’t were handing out $ 1500 for starting an IRA, everyone would be getting one!

Thank you!

Best answer:

Answer by Hoa N
Yes, you have to put in 1500$ in the IRA or Roth IRA to get 1500$ tax credit if you are single filer and your income must be 27,750$ or LESS.

for Head of household, the amount must be 41625.00$ or less.

For married file jointly, 55,500.00$ .

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Q&A: $1500 tax credit for starting IRA?

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