Jack and Kendra are married and filing a joint return. The couple has a modified AGI of $59,000. Jack contributed $2,000 to his Traditional IRA for the tax year. Neither Jack nor Kendra have ever received a distribution from a retirement plan. Assuming there is no limitation based on your tax liability, what is the amount of your Savings Credit?

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The amount of the Savers Credit also known as the Retirement Savings Co... View the full answer