If I contribute 0.00 to a employer retirement plan should I be getting a $200.00 credit?

[MichaelDC]

Did you also contribute to an IRA? Or did your spouse,  if any, contribute to either?

[jyoung509]

Yes - to my individual traditional ira.

[MichaelDC]

Great, thanks.

[MichaelDC · Accepted solution]

Yes. The $200 was a legitimate credit for making your IRA contribution.

The Saver’s Credit can be taken for your contributions to a traditional or Roth IRA; your 401(k), SIMPLE IRA, SARSEP, 403(b), 501(c)(18) or governmental 457(b) plan; and your voluntary after-tax employee contributions to your qualified retirement and 403(b) plans.

Depending on your adjusted gross income and filing status, you can claim the credit for 50%, 20% or 10% of the first $2,000 you contribute during the year to a retirement account. Therefore, the maximum credit amounts that can be claimed are $1,000, $400 or $200.

Please feel free to post any additional details or questions in the comment section.

[user67947]

When they ask me did I want the deluxe package, it wouldn't let me go back or do anything so it made me go forward and that's not fair