Question

I have a question about the IRA Tax Credit. Why don’t I qualify for the retirement savings contribution credit / Saver’s Credit?

Answer

To be eligible for the retirement savings contribution credit/Saver’s Credit, you must meet all of these requirements:

  • You make voluntary contributions to a qualified retirement plan for 2017.
  • You’re at least age 18 by the end of 2017.
  • You weren’t a full-time student during any part of five calendar months in 2017.
  • Another person can’t claim you as a dependent.
  • Your modified adjusted gross income (AGI), based on your filing status, isn’t more than:
    • Married filing jointly — $61,500
    • Married filing separately — $30,750
    • Single — $30,750
    • Head of household — $46,125
    • Qualifying widow(er) — $30,750

Related Topics

Related Resources

What Is Virtual Tax Preparation?

Virtual tax preparations let you complete your taxes online from the comfort of your home. Find out how easy remote tax preparations can be at H&R Block.

Tax Myths—Busted! | H&R Block

When it comes to making everyday tax decisions, we find that there's a gap between what's true and what's rumored. Let's explore four common tax myths.

Common Tax Questions Roundup

Here are the top tax questions our professionals got this year – with answers for you! How can you use this? Read on to get answers from H&R Block.

Is TurboTax Live the Best Virtual Tax Prep Option?

Looking for virtual tax help with your online filing? Learn more about your options by comparing TurboTax Live to H&R Block Tax Pro Review and Tax Pro Go.