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?
03356
3 Replies
HelenaC
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
gsangela
New Member
Jun 4, 2019 6:27:42 PM
Thanks!
HelenaC
New Member
Jun 4, 2019 6:27:43 PM
You're very welcome. Thank you for using TurboTax!