[{"data":1,"prerenderedAt":7},["ShallowReactive",2],{"faq-standard-3098":3},{"rec_id":4,"title":5,"text":6},"3098","Retirement Savings Credit","Menu Path: \u003Ci>Deductions/Credits > Common Deductions/Credits > Retirement Savings Credit\u003C/i> \n\u003Cbr>\u003Cbr>\nYou may be able to take the \u003Ci>Retirement Savings Contributions Credit\u003C/i> if you or your spouse made contributions to a traditional IRA, Roth IRA, 401(k), 403(b), 457, SEP, SIMPLE plan, 501(c)(18), or other qualified retirement plans. \n\u003Cbr>\u003Cbr>\nThe \u003Ci>Retirement Savings Contributions Credit\u003C/i> is only available to taxpayers with adjusted gross incomes of:\u003Cbr>\n- $79,000 or less on a \u003Ci>Married Filing Jointly\u003C/i> return,\u003Cbr> \n- $59,250 for \u003Ci>Head of Household\u003C/i>, \u003Cbr>\n- $39,500 for \u003Ci>Single\u003C/i> taxpayers. \n\u003Cbr>\u003Cbr>\nYou are also not eligible for the \u003Ci>Retirement Savings Contributions Credit\u003C/i> if you are a full-time student, younger than age 18, or claimed as a dependent by your parents or someone else. If you have received pension or IRA distributions (\u003Ci>Form 1099-R\u003C/i>) in the past three years, the amount of distributions received reduces the amount of retirement contributions that are eligible for the credit. The \u003Ci>Retirement Savings Contributions Credit\u003C/i> is not refundable, so if your income is low enough that you do not have any tax, then you won't receive a \u003Ci>Retirement Savings Contributions Credit\u003C/i>.\u003Cbr>\u003Cbr>\nWe'll automatically calculate if you receive the \u003Ci>Retirement Savings Contributions Credit\u003C/i> based on the 401(k) contributions you enter in \u003Ci>Box 12\u003C/i> of your \u003Cspan style=\"white-space: nowrap;\">\u003Ci>W-2\u003C/i>\u003C/span>, the other retirement contributions, such as IRA contributions you enter in the software, and the income you enter on your tax return.",1777391552709]