You may be eligible to claim the Retirement Savings Contributions Credit, also known as the Savers Credit, if all of the following apply:
- You are age 18 or over
- You are not a full time student
- You are not claimed as a dependent on another person's return
The credit is equal to 50%, 20% or 10% of your retirement plan contributions. The amount is dependent on your Adjusted Gross Income. The maximum credit amount is $2,000. The program will determine if you can claim the credit once you enter the required information.