Question

Savers credit is not giving 50% even though my agi is less than 19,500

Forum|Forum|5 years ago
January 24, 2021
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TurboTax Deluxe Online

Even though you may theoretically be eligible for up to 50 percent of your contribution as a credit, it's likely that a smaller amount was needed to offset the tax you owe.

The Credit for Qualified Retirement Savings Contributions on Form 8880 can only offset any tax you might owe. Any amount of the credit that is not used in offsetting that tax will not be reimbursed to you as part of your refund.

Please see the TurboTax article What Is the Difference Between a Refundable and a Nonrefundable Credit? for more information.