2023 Form 1040 Schedule R - Elderly Or Disabled Credit

The 2023 Form 1040 Schedule R is used to claim the Credit for the Elderly or Disabled. This credit is a non-refundable tax credit designed to help eligible individuals with their tax liability.

Here are the main purposes of 1040 Schedule R:

1. Claiming the credit: Schedule R is used to claim the Credit for the Elderly or Disabled, which can reduce an individual's tax liability.
2. Reporting eligibility: The schedule is used to report the individual's eligibility for the credit, including their age, disability status, and income.
3. Calculating the credit: Schedule R is used to calculate the credit amount, which is based on the individual's income and filing status.

To be eligible for the Credit for the Elderly or Disabled, an individual must:

• Be 65 or older as of December 31, 2023
• Be under 65 but retired on permanent and total disability
• Have income below certain limits (see the IRS website for details)

By completing 1040 Schedule R, eligible individuals can claim the credit and reduce their tax liability.

For the current year's Form 1040 Schedule R, click here.