Catch-up Contribution
Definition An additional contribution that can be made to a retirement plan by a participant who is at least age-50 by the end of the
February 28, 2009
Can I take the deduction for my Traditional IRA contribution and still receive the Saver’s Credit?
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Can I take the deduction for my Traditional IRA contribution and still receive the Saver’s Credit?
Can I take a deduction for my Traditional IRA contribution and still receive the Saver’s Credit?
Yes. If you meet the eligibility requirements for both, you can claim both on your tax return. See the articles The Saver’s Credit- an Often Overlooked Retirement Savings Benefit and Active Participant Status–Can You Deduct Your IRA Contribution?
