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:
- Click Federal on the left menu
- Click Deductions on the left menu
- Click Select my forms then click continue
- Click Credits Begin/Edit
- Click Retirement Savings Credit Form 8880 Begin
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.
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 |
2020 Saver's Credit
Credit Rate |
Married Filing Jointly | Head of Household | All Other Filers |
| 50% of your contribution | AGI not more than $39,000 | AGI not more than $29,250 | AGI not more than $19,500 |
| 20% of your contribution | $39,001 - $42,500 | $29,251 - $31,875 | $19,501 - $21,250 |
| 10% of your contribution | $42,501 - $65,000 | $31,876 - $48,750 | $21,251 - $32,500 |
| 0% of your contribution | more than $65,000 | more than $48,750 | more than $32,500 |
For tax year 2019, the amounts are as follows:
50% of your contribution:
- Married Filing Joint AGI not more than $39,000
- Head of Household AGI not more than $29,250
- All other filers AGI not more than $19,500
20% of your contribution:
- Married Filing Joint AGI between $39,001 and $42,500
- Head of Household AGI between $29,250 and $31,875
- All other filers AGI between $19,501 and $21,250
10% of your contribution:
- Married Filing Joint AGI between $42,501 and $65,000
- Head of Household AGI between $31,876 and $48,750
- All other filers AGI between $21,251 and $32,500