Does a regular Traditional IRA qualify for Retirement Savings Contribution Credit? NOT through any employer, or self-employed type plan. Just an individual account opened at bank.
Thank you.
You'll need to sign in or create an account to connect with an expert.
Yes, they do qualify.
Which retirement accounts qualify for the credit?The Savers Credit can be claimed for your contributions to a 401k, 403(b), 457 plan, a Simple IRA or a SEP IRA. (You can’t claim your employer's contributions to these accounts, however.) Your contributions to a traditional IRA or a Roth IRA are also eligible for the Savers Credit.
If you have other questions about this, ask in the comment section below.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
hnk2
New Member
les_matheson
Level 2
NMyers
Level 1
Brownshoes1992
Level 1
fpho16
New Member