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Saver's Credit

A credit for contributions made by eligible low-income taxpayers to a qualified plan (IRAs and elective deferrals).

Eligible Individual - 18 Years of age or older except:
- Dependent of Another.
- Full-time Student.
Amount of Credit - Applicable % x (up to first $2,000 of contribution)
Eligible Contributions - Must be reduced by certain distributions made during 2-year, 9.5 months testing period
Joint Return - Credit available to both spouses.
Applicable % - Based on AGI and can be 50%, 20% or 10%
2025 AGI Limits: Jt = $79,000, HH = $59,250, and Others = $39,500
Credit - Non-refundable.
AMT - Allowed against AMT
Enhanced after 2026

California has no comparable credit.