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L
lwood2332
April 10, 2023
Question

Why would by federal taxes due be less if the only change was adding Roth IRA contribution?

  • April 10, 2023
  • 1 reply
  • 0 views
I completed federal filing information then decided to contribute to my Roth.  When I added this information the federal tax due amount decreased.  Shouldn't it stay the same?

1 reply

AmyC
AmyC
Employee
April 10, 2023

No. You may qualify for the Saver's Credit. See Retirement Savings Contributions Savers Credit for the requirements. You can look on Sch 4, line 4 for the credit. Your tax return would have Form 8880 figuring the credit.

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