Yes, the retirement you pay through your job counts as a qualified retirement plan and may qualify you for theRetirementSavingsContributions Credit (Savers Credit). Thiscredit giveslow and middle-income taxpayersan extraincentive tosavemoneyfor retirement. TurboTaxwill automatically calculate thecreditforyouif you qualify.

Pleasecheck out theTurboTax FAQbelow tosee if you meet thequalifications:

The Retirement Savings Contributions Credit (Savers Credit) helps low and middle-income taxpayers save for retirement. Sometimes this is called the Credit for Qualified Retirement Savings Contribution or Retirement Credit. Its a non-refundable tax credit which means it cant reduce the amount of tax owed to less than zero.

Based on your income and filing status, you may claim a credit on your return for a percentage of the contributions you made to a qualified retirement plan.

You qualify for the credit if youre:

Also, in 2017 your adjusted gross income (AGI) cant be more than:

The maximum credit is $2,000 ($4,000 for married taxpayers who are filing jointly), but is often less due to other deductions and credits and is limited by income. For more details on how to calculate your credit, see theIRS Saver's Creditpage.

Well calculate this credit for you if you qualify and generate Form 8880.

IAS10200

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Does the retirement I pay through my job count as a ...