The retirement savings contribution credit is not the contributions you put into your retirement account. Formerly called the Retirement Savings Contributions Credit, the Savers Credit gives a tax credit to low- and moderate-income taxpayers who are saving for retirement. This credit is in addition to the other tax benefits for saving in a retirement account.
The saver's credit is a tax credit for eligible taxpayers who contribute to an employer-sponsored retirement plan or a traditional and/or Roth IRA. The amount of the credit is based on your retirement plan contributions, tax filing status, and adjusted gross income (AGI)
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