Please review the requirements to get the retirement savings credit below. Please keep in mind that the credit is nonrefundable, which means if you do not owe any taxes then you will not get the credit.
Based on your income and filing status, you may claim a credit on your return for a percentage of the contributions you made to a qualified retirement plan.
You qualify for the credit if you’re:
- 18 or older
- Not a full-time student
- Not claimed as a dependent on someone else’s return
In 2019 your adjusted gross income (AGI) also can’t be more than:
- $64,000 if married filing jointly
- $48,000 if head of household (with qualifying person)
- $32,000 if single, married filing separately, or qualifying widow(er) with dependent child
The maximum credit is $1,000 ($2,000 for married taxpayers who are filing jointly), but is often less due to other deductions and credits and is limited by income. For more details on how to calculate your credit, see the IRS Saver's Credit page.
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