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 2018.
You’re at least age 18 by the end of 2018.
You weren’t a full-time student during any part of five calendar months in 2018.
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

Did the tax deadline surprise you? Learn how to file taxes quickly and accurately with the experts at H&R Block.

How do you claim a per diem tax deduction? Learn more from the tax experts at H&R Block.

Do you have unreimbursed expenses to include on your tax return? Learn how tax reform has changed the rules for unreimbursed employee expenses.

How much interest and property tax can you deduct and how many years back can you claim them? Learn more from the tax experts at H&R Block.