Why is my retirement savings contribution credit half of the amount it was in 2016? Our AGI is the same and we contributed more to our retirement accounts this year

[AnnetteB · Accepted solution]

Since the Saver’s Credit is not a refundable credit and can only reduce your tax liability to zero, it may be that your credit was limited by your tax liability.

Take a look at your Form 1040 to see if this is the case.  Line 51 will show the Saver’s Credit.  If Line 56 is zero, that may explain the reduction in your credit.

Use these steps to Preview your Form 1040 while you are working in your return:

·         In the navigation area on the left side of your screen, click Tax Tools to expand your choices

·         Click Tools, which will open the Tool Center

·         Click View Tax Summary under “Other Helpful Links…”

·         Click Preview My 1040 to see your actual tax form