Credit for Qualified Retirement Savings Contributions
GPTKB entity
Statements (35)
| Predicate | Object |
|---|---|
| gptkbp:instanceOf |
gptkb:tax_law
|
| gptkbp:administeredBy |
gptkb:Internal_Revenue_Service
|
| gptkbp:alsoKnownAs |
gptkb:Saver's_Credit
|
| gptkbp:appliesTo |
gptkb:United_States_taxpayers
gptkb:ABLE_accounts gptkb:SARSEP gptkb:SIMPLE_IRA gptkb:governmental_457(b)_plans gptkb:Roth_IRA 401(k) plans 403(b) plans traditional IRA contributions to retirement accounts voluntary after-tax employee contributions |
| gptkbp:claimedBy |
individual income tax return
|
| gptkbp:eligibility |
age 18 or older
not a full-time student not claimed as a dependent |
| https://www.w3.org/2000/01/rdf-schema#label |
Credit for Qualified Retirement Savings Contributions
|
| gptkbp:introduced |
gptkb:Economic_Growth_and_Tax_Relief_Reconciliation_Act_of_2001
|
| gptkbp:introducedIn |
2001
|
| gptkbp:IRSWebsite |
https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-savings-contributions-savers-credit
|
| gptkbp:maximumLoanAmount |
$2,000 for married filing jointly
$1,000 for individuals $36,500 for single filers (2024) $54,750 for head of household (2024) $73,000 for married filing jointly (2024) |
| gptkbp:nonRefundable |
true
|
| gptkbp:percentageOfContribution |
10%
50% 20% |
| gptkbp:publicLawNumber |
gptkb:Form_8880
|
| gptkbp:purpose |
encourage low- and moderate-income individuals to save for retirement
|
| gptkbp:bfsParent |
gptkb:IRS_Form_8880
|
| gptkbp:bfsLayer |
6
|