MarilynG1
Expert Alumni

Retirement tax questions

If you received a Saver's Credit in 2021 for your 401K Contribution, the amount of the credit is based on your income.

 

Even though you made the same 401K contribution amount in 2022, if your income is higher than 2021, the credit is reduced.

 

You can see how the credit was calculated on Form 8880. 

 

Here's more info on Form 8880.

 

 

@n-monger 

 

 

 

 

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