Retirement Savings Contributions Credit

URI: https://gptkb.org/entity/Retirement_Savings_Contributions_Credit
GPTKB entity
Statements (32)
Predicate Object
gptkbp:instanceOf gptkb:tax_law
gptkbp:administeredBy gptkb:Internal_Revenue_Service
gptkbp:alsoKnownAs gptkb:Saver's_Credit
gptkbp:appliesTo 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
eligible taxpayers
gptkbp:availableOn taxpayers age 18 or older
gptkbp:basedOn adjusted gross income
gptkbp:claimedBy individual income tax return
gptkbp:compatibleWith full-time students
taxpayers claimed as dependents
https://www.w3.org/2000/01/rdf-schema#label Retirement Savings Contributions Credit
gptkbp:introduced gptkb:Economic_Growth_and_Tax_Relief_Reconciliation_Act_of_2001
gptkbp:introducedIn 2001
gptkbp:maximumLoanAmount $1,000 for individuals
$2,000 for married couples filing jointly
gptkbp:percentageOfContribution 10%
50%
20%
gptkbp:publicLawNumber gptkb:Form_8880
gptkbp:purpose encourage retirement savings among low- and moderate-income taxpayers
gptkbp:reduces tax liability
gptkbp:bfsParent gptkb:United_States_federal_income_tax
gptkbp:bfsLayer 7