Low Income Tax Credit for Retirement Contributions (Only 2002-2006)

To encourage low-income taxpayers to make contributions to IRA, Roth-IRA, 401(k) & other retirement plans.
  

Based on Adjusted Gross Income (AGI)
 

    Head of   Maximum Maximum
Credit % Single Household Joint Contribution Tax Credit*
50% Up to $15,000 Up to $22,500 Up to $30,000 $2,000 $1,000
20% $15,001-$16,250 $22,501-$24,375 $30,001-$32,500 $2,000 $200
10% $16,251-$25,000 $24,376-$37,500 $32,501-$50,000 $2,000 $100
          *Claimed on tax return

Additional Information

  
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