Hal_Al
Level 15

Deductions & credits

$2000 is not the credit.  $2000 is the maximum amount (for each person) that can be used to calculate the credit.  Since you are eligible for the maximum 50%,  $1000 is the credit your should be expecting ($2000 x 50% = $1000).

 

As Criiter-3 pointed out, if your spouse had also made a $2000 (or more) contribution, you would have then gotten a $2000 credit ($4000 x 50%).

 

You do not get to count any of your $4708 contribution in the spouse column on form 8880.  She must have made her own retirement contribution.