@hattymarris wrote:
Thanks for the response. I can’t find anything online describing the savers credit that differentiates self employed income from non self employed income. Can you?
The Savers Credit itself it not any different. For both types of income it is a credit that is applied to the tax on the 1040 line 13b. It is how that tax on line 13b is arrived at that is different for Self Employed Income. And the credit can be limited by the 1040 line 8b (AGI) that can be different for SE income.
The IRS rules for the 1040, 8880 and schedule 3 show how it is handled differently as user dmertz pointed out.
You can print all forms and schedules and see the 8880 and 1040 calculations yourself. We do not know what is limited your credit since we cannot see your tax return - only you can see that. We can only offer possibilities.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
