Lotus Li

American Opportunity Tax Credit (AOTC): For the first four years of postsecondary education; must be at least half-time in a degree or credential program and have not completed the first four years

Identify whether the account is a traditional IRA or a Roth IRA, and whether you’re a spouse beneficiary treating the account as your own or remaining a beneficiary.

Child Tax Credit (CTC): For each qualifying child under age 17 at year-end who is your dependent, generally lived with you more than half the year, and has an SSN valid for employment issued by the return’s due date

Social Security survivor benefits are treated the same as other Social Security benefits for income tax purposes. Up to 85% of benefits can be taxable depending on your total income and filing status.

IRS “What’s New — Estate and Gift Tax” and Gift Tax FAQs list the 2025 annual exclusion as $19,000 per donee 2

The 0.9% Additional Medicare Tax applies when an individual’s earnings exceed filing-status thresholds. It is imposed on:

Combined potential deferral for age 50+: up to $31,000 (or up to $34,750 if age 60–63 in 2025, subject to plan terms)