ChristinaS
Expert Alumni

Retirement tax questions

No.

Pension income is not compensation/ earned income. You cannot get a benefit for an IRA contribution or a saver's credit unless-

You are on disability and have not yet reached minimum retirement age. In this situation, your 1099-R is treated as earned income and taxed as wages.

Please look at your 1040. There's no way you have a deduction for an IRA contribution if there's no earned income on your return and your 1099-R is treated as retirement income. Are you married? Your spouse's earned income counts too.