Skip to main content
TurboTax
Community
TurboTax
Community
TurboTax
Community
S
sunshinyday
September 28, 2022
Question

Savers credit

  • September 28, 2022
  • 1 reply
  • 0 views

Does the savers credit is in effect for this tax year? Can someone still get the saver's credit if the person has an employer sponsored 401k?

    1 reply

    K
    KanM361
    September 28, 2022

    Hello,

    Yes, savers credit is available for Tax Year 2022, if you are eligible taxpayers who make salary deferral contributions to employer-sponsored 401(k), 403(b), SIMPLE, SEP, thrift savings plans (TPS), or governmental 457 plans.3 It is also available to those who contribute to traditional and/or Roth IRAs. So contributing to employer sponsored 401K makes you eligible for savers credit.

     

    **Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"
    TurboTax Expert Assist
    TurboTax Expert

    Get answers to all your tax questions

    Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Expert Assist.

    Terms & ConditionsCookie settingsAccessibility statement
    Intuit
    TurboTax Credit Karma QuickBooks MailChimp

    ©1997-2022 Intuit, Inc. All rights reserved.
    Intuit, QuickBooks, QB, TurboTax, ProConnect, and Mint are registered trademarks
    of Intuit Inc. Terms and conditions, features, support, pricing, and service options
    subject to change without notice.

    Security Certification of the TurboTax Online application has been performed by
    C-Level Security.

    By accessing and using this page you agree to the Terms of Use.

    Accessibility

    TRUSTe nResult Certified e-File C-Level Security Certification