I am still unsure - is the monthly ROth IRA contribution that "comes" with the account, is that what "retirement savings contributions credit" means?

[sammy10005]

Just wondering if I need to report the regular monthly deduction by Primerica, or if it asks about ADDITIONAL ones?

[ThomasM125]

No, a retirement savings contribution credit is a credit against your federal income tax for contributing to a retirement account. Depending on your income, if you make contributions to a retirement account during the year and meet other requirements you can get a reduction in your income tax in the form of a credit.

[sammy10005]

Ok..... so, the standard monthly amount my Roth IRA takes out of my bank statement is NOT considered "contribution" to a retirement account here?

[ThomasM125]

It is a contribution that may afford you a credit. The credit would be called a retirement savings contribution credit. But the contribution would be just that, a contribution, not a credit. You may not qualify for the credit just because you make a retirement contribution. Also, the credit would be less than the contributions you make.

[VolvoGirl]

Yes you are contributing to your ROTH IRA.  You need to enter the total contribution for the year into Turbo Tax.  It can qualify you for the Retirement Savings Credit.