Solved: Please explain disqualification for Retirement Savings Contribution Credit.

Please explain disqualification for Retirement Savings Contribution Credit.

Born 1991. AGI around $6000. Not on parents' return. Less than half time student. No IRA distributions.

posted

If you AGI was $6000, you would have had no taxable income and therefore, no tax. The Saver's Credit is a non-refundable credit, which means the most it will do is decrease your tax.

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If you AGI was $6000, you would have had no taxable income and therefore, no tax. The Saver's Credit is a non-refundable credit, which means the most it will do is decrease your tax.