457 plans are non-qualified, tax-advantaged, deferred compensation retirement plans offered by state, local government and some nonprofits.
The Savers Credit gives a special tax break to low- and moderate-income taxpayers. This credit is in addition to the other tax benefits for saving in a retirement account. If you qualify, a Savers Credit can be applied to your tax liability. A 457 plan qualifies as a retirement plan. TurboTax will automatically ask you the questions if you qualify.
What is the 2020 Saver's Credit?
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