493711
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Attend our Ask the Experts event about Tax Law Changes - One Big Beautiful Bill on Aug 6! >> RSVP NOW!
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

gsangela
New Member

If I am an independent contractor, if I make a contribution to an IRA can I claim both both the deduction to my AGI, and the savers credit simultaneously?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

3 Replies
HelenaC
New Member

If I am an independent contractor, if I make a contribution to an IRA can I claim both both the deduction to my AGI, and the savers credit simultaneously?

Yes, your IRA contribution gets deducted form your AGI and if you qualify for the Savers Credit, TurboTax automatically generates form 8880, Credit for Qualified Retirement Savings Contributions. https://ttlc.intuit.com/replies/3301263

gsangela
New Member

If I am an independent contractor, if I make a contribution to an IRA can I claim both both the deduction to my AGI, and the savers credit simultaneously?

Thanks!
HelenaC
New Member

If I am an independent contractor, if I make a contribution to an IRA can I claim both both the deduction to my AGI, and the savers credit simultaneously?

You're very welcome. Thank you for using TurboTax!  

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question