Get Irs 8880 2022

The IRS 8880 form is used to determine your eligibility for the retirement savings contributions credit, also known as the saver’s credit. This guide will provide a clear and comprehensive overview of how to complete the form online.

Follow the steps to successfully fill out the IRS 8880 online.

1. Click ‘Get Form’ button to access the form and open it in the editor.
2. Enter your social security number in the designated field at the top of the form.
3. Fill in your name and the name of your spouse, if applicable, as shown on your tax return.
4. Complete Line 1 by entering the total contributions made to traditional and Roth IRAs for the year 2022.
5. For Line 2, enter any elective deferrals made to a 401(k) or other qualified employer plans.
6. Add the amounts from Line 1 and Line 2 to complete Line 3.
7. For Line 4, report any distributions received after 2019 and before the due date of your 2022 tax return.
8. Subtract Line 4 from Line 3 and enter the result on Line 5. If the result is zero or less, enter -0-.
9. On Line 6, enter the smaller of Line 5 or $2,000 for each column.
10. Add the amounts from Line 6 and enter the total on Line 7. If the total is zero, you cannot take this credit.
11. Enter the amount from Form 1040, 1040-SR, or 1040-NR, line 11 on Line 8.
12. Refer to the provided table and enter the applicable decimal amount corresponding to your filing status on Line 9.
13. Multiply Line 7 by Line 9 and enter the result on Line 10.
14. Determine your credit limitation based on your tax liability and enter that amount on Line 11.
15. Report the smaller amount from Line 10 or Line 11 as your credit for qualified retirement savings contributions on the final line.
16. Review all the information entered for accuracy, then save your changes, download the form, print it, or share it as needed.

Complete your forms online to ensure timely and accurate submissions.