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New Member
posted Mar 27, 2020 4:56:41 PM

What is schedule 3? Is my 401k considered a qualified retirement plan? What is savers credit?

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2 Replies
Expert Alumni
Mar 27, 2020 5:19:02 PM

Schedule 3 is for Nonrefundable credits.

A 401k is a qualified plan.

The Savers Credit is for people who contribute to retirement plans and meet other qualifications  (See What is the 2019 Saver's Credit? - Community )

Level 15
Mar 27, 2020 5:21:24 PM

1) Schedule 3 is Additional tax payments and credits (see screenshot).

 

2) 401(k) plans are qualified.

 

3) Savers Credit can add to your refund if you contributed to a retirement plan and meet the income requirements.