• Denise Hue

The Retirement Savings Contributions Credit

You may be able to claim this saver’s credit if you make a traditional IRA or Roth IRA contribution for 2019 by April 15, 2020 or have contributed to a retirement plan through salary withholding during 2019. You cannot take the credit if you are a dependent, a full-time student for more than five months or if you are under 18. Eligible contributions are reduced by withdrawals. The credit percentage is determined by income and is phased out according to the following table:




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©2020 by Denise Hue.