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Why is turbo tax using my gross income instead of AGI in qualifying for a retirement savings contribution credit?

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1 Reply
DawnC
Employee Tax Expert

Why is turbo tax using my gross income instead of AGI in qualifying for a retirement savings contribution credit?

TurboTax does use your AGI.  Gross income is on Line 9 of Form 1040 and AGI is on Line 11.   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 2024 your adjusted gross income (AGI) also can’t be more than:

 

  • $76,500 if Married Filing Jointly
  • $57,375 if Head of Household (with qualifying person)
  • $38,250 if Single, Married Filing Separately, or Surviving Spouse with dependent child 
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