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
Where do I enter my Form 8880 into the program?
To enter your information into the program, go to:
- Federal
- Deductions (select my forms)
- Credits
- Credit for Qualified Retirement Savings Contributions
What else should I know about the Retirement Savings Contributions Credit?
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 automatically calculate your credit once you enter the required information.
2024 Saver's Credit
| Credit Rate | Married Filing Jointly | Head of Household | All Other Filers |
| 50% of your contribution | AGI not more than $46,000 | AGI not more than $34,500 | AGI not more than $23,000 |
| 20% of your contribution | $46,001 - $50,000 | $34,501-- $37,500 | $23,001 - $25,000 |
| 10% of your contribution | $50,001 - $76,500 | $37,501 - $57,375 | $25,001 - $38,250 |
| 0% of your contribution | more than $76,500 | more than $57,375 | more than $38,250 |
2023 Saver's Credit
| Credit Rate | Married Filing Jointly | Head of Household | All Other Filers |
| 50% of your contribution | AGI not more than $43,500 | AGI not more than $32,625 | AGI not more than $21,750 |
| 20% of your contribution | $43,501 - $47,500 | $32,626 - $35,625 | $21,751 - $23,750 |
| 10% of your contribution | $47,501 - $73,000 | $35,626 - $54,750 | $23,751 - $36,500 |
| 0% of your contribution | more than $73,000 | more than $54,750 | more than $36,500 |
2022 Saver's Credit
| Credit Rate | Married Filing Jointly | Head of Household | All Other Filers |
| 50% of your contribution | AGI not more than $41,000 | AGI not more than $30,750 | AGI not more than $20,500 |
| 20% of your contribution | $41,001–$44,000 | $30,751–$33,000 | $20,501–$22,000 |
| 10% of your contribution | $44,001–$68,000 | $33,001–$51,000 | $22,001–$34,000 |
| 0% of your contribution | more than $68,000 | more than $51,000 | more than $34,000 |
2021 Saver's Credit
| Credit Rate | Married Filing Jointly | Head of Household | All Other Filers |
| 50% of your contribution | AGI not more than $39,500 | AGI not more than $29,625 | AGI not more than $19,750 |
| 20% of your contribution | $39,501 - $43,000 | $29,626 - $32,250 | $19,751 - $21,500 |
| 10% of your contribution | $43,001 - $66,000 | $32,251 - $49,500 | $21,501 - $33,000 |
| 0% of your contribution | more than $66,000 | more than $49,500 | more than $33,000 |
For more information, please see IRS.gov.