☰
✕
Sign In

Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Jun 3, 2019 11:24:18 AM

Receive any distributions from a retirement plan after 2015 (Retirement Savings Contribution)? Should my answer be yes if we received IPERS?

0 4 1009
1 Best answer
Level 15
Jun 3, 2019 11:24:20 AM

You are correct the answer would be yes if you were collecting from IPERS.

4 Replies
Level 15
Jun 3, 2019 11:24:20 AM

You are correct the answer would be yes if you were collecting from IPERS.

Level 15
Jun 3, 2019 11:24:21 AM

Essentially, getting any retirement payments disqualifies you from the Retirement Savings Contribution Credit

Level 2
Jun 3, 2019 11:24:23 AM

Getting a monthly pension check, and getting the 1099-R (as income) disqualifies me from the savings credit? I also contribute to a 401k and an IRA.

Level 15
Jun 3, 2019 11:24:25 AM

Simple answer: Yes.
Technically it   depends on the amount of your pension. But, the measurement period is three years back. That is, all pensions received from 1-1-16 to 4-15-19 count against ythe calculation of the savers credit for 2018. See line 4-7 on form 8880. <a rel="nofollow" target="_blank" href="https://www.irs.gov/pub/irs-pdf/f8880.pdf">https://www.irs.gov/pub/irs-pdf/f8880.pdf</a>