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?

379

New Member

Jun 4, 2019 6:27:40 PM

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

New Member

Jun 4, 2019 6:27:42 PM

Thanks!

New Member

Jun 4, 2019 6:27:43 PM

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

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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?