Retirement sqavings contributions credit

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  • Lucy
    Junior Member
    • Jan 2006
    • 5
    #1

    Retirement sqavings contributions credit

    Does tp qualify for retirement credit when they had a distribution from 401K. Code 7, Ira box not check. My softeware is giving it to them but I am just not sure it is correct. I can't find an answer in any of the pub's or tax book. Thanks in advance for any help.
    Tags: None
    • BP.
      Senior Member
      • Oct 2005
      • 1750
      #2
      must reduce

      Reference Pub 590, ch 4, "Reducing eligible contributions." You gotta reduce the contribution by 401(k) distribution amounts.

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