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naj
New Member

My Roth IRA is not employer sponsored (I opened it myself). Is it "a qualified retirement plan" and "may qualify for the retirement savings contribution/Saver's Credit)"?

 
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1 Reply
dmertz
Level 15

My Roth IRA is not employer sponsored (I opened it myself). Is it "a qualified retirement plan" and "may qualify for the retirement savings contribution/Saver's Credit)"?

Yes, provided they are not excess contributions, your personal contributions to the Roth IRA are considered for the Retirement Savings Contributions Credit.  Similarly, distributions from a Roth IRA reduce for several years the amount of new contributions considered for the credit.

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