Feature Articles: Taxes
Credit for the Elderly or the Disabled
Reviewed and used with special permission from the IRS by: Brenda Procter, M.S., State Specialist & Instructor, Personal Financial Planning, University of Missouri Extension
You may be eligible for the Credit for the Elderly or the
Disabled
if you were age 65 or older at the end of the tax year, or if you
are retired on permanent and total disability. Like any other tax
credit, it’s a dollar-for-dollar reduction of your tax bill, with
a maximum amount of $1,125.
You can take the Credit for the Elderly or the Disabled if:
- You are a qualified individual
- Your adjusted gross income is less than specific limits depending on your filing status
- Your nontaxable income from Social Security or other nontaxable pension is less than specific limits depending on your filing status
Generally, you are a qualified individual for this credit if you
are a U.S. citizen or resident at the end of the tax year and you
are age 65 or older. Taxpayers younger than 65 qualify if they are
retired on permanent and total disability, received taxable disability
income, and did not reach mandatory retirement age before the beginning
of the tax year.
Even if you do not retire formally, you are considered retired on
disability when you have stopped working because of your disability.
If you are under 65, you must have your physician complete a statement
certifying that you were permanently and totally disabled on the
date you retired. You do not have to file this statement with your
tax return, but you must keep it for your records.
Use Schedule R, Form 1040, or Schedule 3, Form 1040A, to compute
the credit. You cannot take the credit if you file Form 1040EZ.
For more information, including limits on adjusted gross income and nontaxable
income,
see IRS Publication 524, Credit for the Elderly or the Disabled,
which you may obtain from IRS.gov
or by calling the IRS at 1-800-TAX-FORM (1-800-829-3676).
Source:
IRS. (2011). Credit for the Elderly or the Disabled.
IRS Publication 524, retrieved from
http://www.irs.gov/pub/irs-pdf/p524.pdf
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Last update: Friday, February 24, 2012
