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Does a pre-tax retirement qualify for the tax credit?

 
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1 Reply
MargaretL
Expert Alumni

Does a pre-tax retirement qualify for the tax credit?

Yes, pre-tax retirement (such as 401K) does qualify for a Savers Credit (formerly called the Retirement Savings Contribution credit). However, pre-tax retirement does not qualify as tax deduction, since contributions are made with pre-tax dollars.

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