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?
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
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?
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?
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