Asked by Sondos Alansari on May 20, 2024
Verified
In order to be eligible for the credit for the elderly or the disabled,the taxpayer must be age 55 or older or have retired on permanent disability.
Credit for the Elderly
A tax credit available to taxpayers aged 65 and older, aimed at reducing the tax liability for qualified individuals.
Permanent Disability
A condition where an individual is unable to work and earn income due to a long-term injury or illness, often leading to eligibility for certain benefits.
- Identify the eligibility requirements for the credit for the elderly or the disabled.
Verified Answer
RW
Ruthie WolfeMay 22, 2024
Final Answer :
False
Explanation :
In order to be eligible for the credit for the elderly or the disabled, the taxpayer must be age 65 or older or have retired on permanent disability.
Learning Objectives
- Identify the eligibility requirements for the credit for the elderly or the disabled.