Why did I receive a $200 tax break from contributing to a Roth IRA?

1127

2 Replies

Expert Alumni

Mar 2, 2022 6:28:56 PM

You are correct, you wouldn't normally receive a tax deduction for a Roth IRA Contribution.

However, you may have qualified for the Retirement Savings Contribution Credit.

Click this link for more info about the Retirement Savings Contribution Credit.

[Edited 03/04/2022 12:54 pm]

Level 15

Mar 3, 2022 6:03:19 AM

You got the Retirement Savings Contributions Credit (Form 8880).