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    sherick11's Avatar
    sherick11 Posts: 8, Reputation: 2
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    #1

    Mar 3, 2007, 12:51 PM
    Retirement Savings Credit
    Hi! Question for my in-laws tax return... They appear to be eligible for the 2006 Credit for Qualified Retirement Savings Contributions. (i.e. they are under the $50K income limit for MFJ, and meet all other requirements.) However, they have received some pension income from former employers over the past few years (around $5K). If I am completing Form 8880 correctly, this receipt of pension income precludes them from taking the credit. Is this correct? Thanks in advance for helping me with this!!
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Mar 5, 2007, 10:47 AM
    If they have earned income, they can get the Retirement Savings Credit. The fact that they got pension income is irrelevant.
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