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Retirement Savings contribution credit include traditional IRA

Does a regular Traditional IRA qualify for Retirement Savings Contribution Credit? NOT through any employer, or self-employed type plan.  Just an individual account opened at bank.

Thank you.

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2 Replies
Cindy0H
New Member

Retirement Savings contribution credit include traditional IRA

Yes, they do qualify.

Which retirement accounts qualify for the credit?

The Savers Credit can be claimed for your contributions to a 401k, 403(b), 457 plan, a Simple IRA or a SEP IRA. (You can’t claim your employer's contributions to these accounts, however.) Your contributions to a traditional IRA or a Roth IRA are also eligible for the Savers Credit.

If you have other questions about this, ask in the comment section below.

Retirement Savings contribution credit include traditional IRA

That's great. However, there isn't an entry box for regular IRA. They only ask about work-related plans. And I don't have simple or the similar in my self-employed, solo work.  Thank you.
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