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Level 1
posted May 12, 2021 4:04:31 PM

Reiretment Saving Contribution Credit

My wife received lump sum non spousal Death Benefits. Should this reduce the savers credit?

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1 Replies
Expert Alumni
May 14, 2021 2:49:53 PM

Yes. Retirement Savings Contributions Savers Credit | IRS states: Also, your eligible contributions may be reduced by any recent distributions you received from a retirement plan or IRA, or from an ABLE account.