Internal Revenue Service United States Department of the Treasury
Level Basic Advanced Military International

Important Changes This Year

Taxes and Credits

Retirement Savings Contribution Credit

Retirement Savings Contribution Credit

In order to claim this credit, the taxpayer's modified adjusted gross income (MAGI) must not be more than $31,500 for Single, Married Filing Separately, or Qualifying Widower (increase of $500). MAGI must not be more than $47,250 (increase of $750) for Head of Household, and $63,000 (increase of $1,000) for Married Filing Jointly.

Designated beneficiaries of Achieving a Better Life Experience (ABLE) accounts may claim a retirement savings contributions credit for contributions they make to their ABLE account for tax years 2018-2025.