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?

posted

Didn't get the answer you wanted? Would you like to view more questions that might be relevant?

1 Best answer

Accepted Solutions

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

1 Reply

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"

Still have questions?

v