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Our joint inome for 2022 was about $49000. I did not get the tax savers credit after contributing to a 401k like I did in 2020. I did rollover $10000
I did not receive the tax savers credit for 2022 like we did in 2020. We contributed $1500 to 401K and our joint income was $49000. I did convert $10000 from a traditional IRA to a Roth IRA, and I understand that an IRA withdrawl will reduce or eliminate the credit. But does a Roth conversion also reduce the credit? Trying to understand why turbo tax said I did not qualify for the savers credit this year
Thanks in advance
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‎February 19, 2023
5:16 AM