Q: What are the income rages for the Saver’s Credit?
A: In order to be eligible for the tax credit, you MAGI must fall in the ranges indicated in the chart below. The applicable percentage of the credit is also indicated.
2007 Thresholds |
Credit Rate |
Married and files a joint return |
Files as head of household |
Other category of filers |
|
Over |
Not Over |
Over |
Not Over |
Over |
Not Over |
50% |
$0.00 |
$31,000 |
$0.00 |
$23,250 |
$0.00 |
$15,500 |
20% |
$31,000 |
$34,000 |
$23,250 |
$25,500 |
$15,500 |
$17,000 |
10% |
$34,000 |
$52,000 |
$25,500 |
$39,000 |
$17,000 |
$26,000 |
0% |
$52,000 |
|
$39,000 |
|
$26,000 |
|
2008 Thresholds |
Credit Rate |
Married and files a joint return |
Files as head of household |
Other category of filers |
|
Over |
Not Over |
Over |
Not Over |
Over |
Not Over |
50% |
$0.00 |
$32,000 |
$0.00 |
$24,000 |
$0.00 |
$16,000 |
20% |
$32,000 |
$34,500 |
$24,000 |
$25,875 |
$16,000 |
$17,250 |
10% |
$34,500 |
$53,000 |
$25,875 |
$39,750 |
$17,250 |
$26,500 |
0% |
$53,000 |
|
$39,750 |
|
$26,500 |
|
Back to
Roth Vs Traditional IRA FAQ
|
|
|
