Questions & Answers

Why do I need to enter my Roth IRA contributions?

Roth IRA contributions may qualify for the Retirement Savings Contributions Credit if your income is not too high to claim the credit. Once you enter your Roth IRA contributions, we'll calculate the Retirement Savings Contributions Credit based on your income and any other retirement contributions you made such as 401(k) and regular IRA contributions.

The Retirement Savings Contributions Credit is only available to taxpayers with adjusted gross incomes of $65,000 or less for Married Filing Jointly, $48,750 for Head of Household, and $32,500 for Single, Married Filing Separately, or Qualifying Widow(er) filing statuses.

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