@dhk678 wrote:
So just to follow up; I am low income. I made about $26000 total last year working at a grocery store. My folks, God Bless them, gifted me $6000 to put into a Roth IRA since the living expenses where I live are too high for me to get the money from my own salary. You are saying that since the money came from my parents, and not my own compensation, I am not allowed to claim the Savers Credit?
I am only saying that the tax code requires any contribution to an IRA must be from taxable compensation.
IRS Publication 590-A, Contributions to Individual Retirement Arrangements (IRAs) Table 1-1. Compensation for Purposes of an IRA, page 6 - https://www.irs.gov/pub/irs-pdf/p590a.pdf#page=6
