Solved: My husband had elective deferrals to a 401k this year. Does that count as "contributing to a qualified retirement plan" for the retirement savings contribution credit?
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My husband had elective deferrals to a 401k this year. Does that count as "contributing to a qualified retirement plan" for the retirement savings contribution credit?

 
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Employee Tax Expert

My husband had elective deferrals to a 401k this year. Does that count as "contributing to a qualified retirement plan" for the retirement savings contribution credit?

Yes, elective deferrals to a 401k qualify for the saver's credit. Contributions to anyone of the account below qualify.

  • Traditional or Roth IRA
  • SEP or SIMPLE IRA
  • 401(k), including designated Roth 401(k)
  • 403(b), including designated Roth 403(b)
  • Salary reduction SEP
  • Governmental 457 plan
  • Section 501(c)(18) plan
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Employee Tax Expert

My husband had elective deferrals to a 401k this year. Does that count as "contributing to a qualified retirement plan" for the retirement savings contribution credit?

Yes, elective deferrals to a 401k qualify for the saver's credit. Contributions to anyone of the account below qualify.

  • Traditional or Roth IRA
  • SEP or SIMPLE IRA
  • 401(k), including designated Roth 401(k)
  • 403(b), including designated Roth 403(b)
  • Salary reduction SEP
  • Governmental 457 plan
  • Section 501(c)(18) plan
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

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