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Level 1
posted May 12, 2021 11:35:15 AM

TT asks if I made a contribution to a qualified retirement plan. Is a Roth IRA a qualified retirement account? TT Sucks!

I know a Roth is an individual retirement account - that is not the quesiton.  Is a Roth IRA a qualified retirement account?

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1 Replies
Expert Alumni
May 12, 2021 12:22:08 PM

See the following article for the tax definition of 'qualified retirement plan':  What is a "qualified retirement plan"?

 

Given that information, if you are asking in the context of being able to claim the Saver's Credit, then yes, a Roth IRA is considered to be a qualified retirement account for the purpose of the Saver's Credit.