Saver's Credit Calculator
Estimate the Retirement Savings Contributions Credit (Saver's Credit) worth up to 50% of what you put into an IRA or 401(k).
How it works
Saver's Credit = min(contribution, $2,000/$4,000) × rate · Rate is 50%, 20%, 10% or 0% based on filing status and AGI band
The Saver's Credit rewards lower-income workers for contributing to a retirement account. Only the first $2,000 of contributions ($4,000 for joint filers) counts, and the credit rate steps down from 50% to 20% to 10% as income rises, reaching zero above the top band. Because it is a nonrefundable credit it can reduce tax to zero but not below.
Worked example
A single filer with $22,000 of AGI who contributes $2,000 to an IRA is in the 50% band, so the credit is $2,000 × 50% = $1,000 off their tax bill.
Frequently asked questions
What is the Saver's Credit?
It is the Retirement Savings Contributions Credit — a tax credit of 10% to 50% of what lower-income workers contribute to an IRA, 401(k), or similar plan, on up to $2,000 of contributions ($4,000 if married filing jointly).
Why did my credit rate drop?
The rate is tied to income bands. As AGI rises past each threshold the rate falls from 50% to 20% to 10%, and above the top band you no longer qualify.
Is it refundable?
No. It is nonrefundable, meaning it can lower your tax to zero but any excess is not paid out as a refund.
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Educational estimate, not tax advice. Uses recent federal parameters that change yearly and ignores your full situation — confirm with a tax professional or the IRS.