If you attempt to go through the interview, it may tell you why you do not qualify. Search for saver's credit (use the apostrophe or it won't work) and use the Jump to saver's credit link to go to the interview. @pav1
It is a non-refundable credit meaning that if you tax liability is already at $0 (see Line 22 of your Form 1040), you won't get the credit.
You qualify for the credit if you’re:
- 18 or older
- Not a full-time student
- Not claimed as a dependent on someone else’s return
In 2020 your adjusted gross income (AGI) also can’t be more than:
- $65,000 if married filing jointly
- $48,750 if head of household (with qualifying person)
- $32,500 if single, married filing separately, or qualifying widow(er) with dependent child
The maximum credit is $1,000 ($2,000 for married taxpayers who are filing jointly), but is often less due to other deductions and credits and is limited by income. For more details on how to calculate your credit, see the IRS Saver's Credit page.
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