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alxvenus
New Member

Credit for retirement savings We took a distribution in 2015. why does that effect 2016 credit

 
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DawnC0
Intuit Alumni

Credit for retirement savings We took a distribution in 2015. why does that effect 2016 credit

The amount of the credit is reduced by the amount of any distributions you have taken in the last three years.  The credit is given to encourage savings.  If you take money from your savings, then you are no longer entitled to receive the benefit of the Saver's Credit.  

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DawnC0
Intuit Alumni

Credit for retirement savings We took a distribution in 2015. why does that effect 2016 credit

The amount of the credit is reduced by the amount of any distributions you have taken in the last three years.  The credit is given to encourage savings.  If you take money from your savings, then you are no longer entitled to receive the benefit of the Saver's Credit.  

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