Question
Rafael and Lucy, married taxpayers, each contribute $2,900 to their respective 401(k) plans offered through their employers. The AGI reported on the couple's joint return
Rafael and Lucy, married taxpayers, each contribute $2,900 to their respective 401(k) plans offered through their employers. The AGI reported on the couple's joint return is $42,000. Determine their credit for retirement plan contributions (the Savers Credit).
Click here to access the "Saver's" Credit Rate and AGI Thresholds Table.
As a result, they may claim a credit for their retirement plan contributions of
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Personal Finance
Authors: Jack Kapoor, Les Dlabay, Robert Hughes
4th Edition
0256147175, 978-0256147179
