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dukeblue2021
March 17, 2020
Question

Can anyone explain why I'm receiving a tax credit

  • March 17, 2020
  • 1 reply
  • 0 views
I have retirement savings contribution credit on 2019 federal tax return.  I do not know what this is.  Can anyone explain?

1 reply

SusanY1
SusanY1
March 17, 2020

This is a credit for certain taxpayers who contribute to either an IRA or other retirement plans (such as their company 401(k) plan and have incomes that fall under a prescribe limit and meet a few other criteria.

 

You can learn more about it here: What Is the Savers Credit?

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