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Claim the credit: You must complete IRS Form 8880 (Credit for Qualified Retirement Savings Contributions), which helps you determine the amount of your credit and is filed with your tax return.
To claim the Saver’s Credit, you’ll need to use Form 8880 (Credit for Qualified Retirement Savings Contributions) when filing taxes. This form will be attached to your Form 1040 , 1040-SR or ...
To better understand how the retirement savings contribution credit works, consider the below example: Annie, whose tax-filing status is single, has an adjusted gross income of $20,000 for tax ...
Voluntary after-tax employee contributions made to a qualified retirement plan (including the federal Thrift Savings Plan) or 403(b) plan Contributions to a 501(c)(18)(D) plan, or
Also known as the Retirement Savings Contribution Credit, this nonrefundable tax credit is available to low- and moderate-income taxpayers who contribute to a qualified retirement account, such as ...
A pro tip on contributions: The IRS permits taxpayers to make contributions to their individual retirement accounts up until April 15, 2024, and include those investments on their 2023 taxes.