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. . . Enter the total of your credits from lines 44 and 45. X. 13 14 *See Pub. 590 for the amount to enter if you are filing Form 2555, 2555-EZ, or 4563 or you are excluding income from Puerto Rico. For Paperwork Reduction Act Notice, see back of form. Cat. No. 33394D Form 8880 (2009) Page 2 Form 8880 (2009) General Instructions Line 4 Section references are to the Internal Revenue Code. Enter the total amount of distributions you, and your spouse if filing jointly, received after.

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This is a nonrefundable credit, so it reduces the tax liability but will not be refunded if the tax liability is already at zero. A taxpayer cannot claim the retirement savings credit if either of the following applies: Their adjusted gross income is more than. $30,000 if filing Single or MFS.

Dependents and full-time students are also not eligible for the credit. Use Form 8880PDF to determine the rate and amount of the credit. Claim the credit on Form 1040, U.S. Individual Income Tax Return, Form 1040-SR, U.S. Tax Return for Seniors or on Form 1040-NR, U.S. Nonresident Alien Income Tax Return.

Distributions of dividends paid on stock held by an employee stock ownership plan under section 404(k) Distributions from a military retirement plan (other than the federal Thrift Savings Plan) Distributions from an inherited IRA by a nonspousal beneficiary.

Unlike the Earned Income Tax Credit (EITC), if you work and don't owe income tax, you cannot claim the Saver's Tax Credit. Some families with children who earn moderate incomes may get a larger EITC when they contribute income to a retirement account through pre-tax salary deductions and claim the Saver's Tax Credit.

2023 Saver's Credit Credit RateMarried Filing JointlyAll Other Filers*50% of your contributionAGI not more than $43,500AGI not more than $21,75020% of your contribution$43,501- $47,500$21,751 - $23,75010% of your contribution$47,501 - $73,000$23,751 - $36,5000% of your contributionmore than $73,000more than $36,500 Dec 21, 2022

Your Adjusted Gross Income (AGI) must fall below the income limits for your filing status. For 2022, single filers with an AGI of $34,000 or more, head of household filers with AGI of $51,000 or more and joint filers with an AGI of $68,000 or more are ineligible to claim the credit.

You may be able to take this credit if you, or your spouse if filing jointly, made (a) contributions (other than rollover contributions) to a traditional or Roth IRA; (b) elective deferrals to a 401(k), 403(b), governmental 457(b), SEP, SIMPLE, or to the federal Thrift Savings Plan (TSP); (c) voluntary employee ...

2021 Saver's Credit Credit RateMarried Filing JointlyHead of Household50% of your contributionAGI not more than $39,500AGI not more than $29,62520% of your contribution$39,501 - $43,000$29,626 - $32,25010% of your contribution$43,001 - $66,000$32,251 - $49,5000% of your contributionmore than $66,000more than $49,500 Dec 21, 2022

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232