The Retirement Savings Contributions Credit (“Saver’s credit”) is very limited and is for low income people. See the table on Form 8880: https://www.irs.gov/pub/irs-pdf/f8880.pdf
You, or your spouse, must not have taken money out of a retirement account (including drawing a pension) in the last three years.
The Retirement Savings Contributions Credit (“Saver’s credit”) is very limited and is for low income people. See the table on Form 8880: https://www.irs.gov/pub/irs-pdf/f8880.pdf
You, or your spouse, must not have taken money out of a retirement account (including drawing a pension) in the last three years. See line 2 on form 8880.
Until you indicate that you are not a full-time student, the program won't give you the credit. You may have to go through the error-check/review.
It is not a refundable credit. You must have a tax liability to take the credit against.
TurboTax (TT) will check this automatically when it sees you made a qualified contribution. If you want to verify that happened; enter in TT at:
Federal Taxes Tab
Deductions & Credits
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-Retirement and Investment
- Retirement Savings Contribution Credit
