Form 8880 Credit for Qualified Retirement Savings Contributions

Form

8880

Credit for Qualified Retirement Savings Contributions
©

Department of the Treasury
Internal Revenue Service
Name(s) shown on return

Attach to Form 1040, Form 1040A, or Form 1040NR.
© See instructions on back.

OMB No. 1545-0074

2009

Attachment

Sequence No. 54
Your social security number

You cannot take this credit if either of the following applies.
● The amount on Form 1040, line 38; Form 1040A, line 22; or Form 1040NR, line 36 is more than $27,750 ($41,625 if head of
household; $55,500 if married filing jointly).
● The person(s) who made the qualified contribution or elective deferral (a) was born after January 1, 1992, (b) is claimed as a
dependent on someone else’s 2009 tax return, or (c) was a student (see instructions).

Before you begin: Figure the amount of any credit for the elderly or the disabled you are claiming on Form 1040, line 53.
(a) You
1

Traditional and Roth IRA contributions for 2009. Do not include rollover
contributions . . . . . . . . . . . . . . . . . . . .

2

Elective deferrals to a 401(k) or other qualified employer plan, voluntary
employee contributions, and 501(c)(18)(D) plan contributions for 2009
(see instructions) . . . . . . . . . . . . . . . . . .

3
4

Add lines 1 and 2 . . . . . . . . . . . . . . . . . .
Certain distributions received after 2006 and before the due date
(including extensions) of your 2009 tax return (see instructions). If
married filing jointly, include both spouses’ amounts in both columns.
See instructions for an exception . . . . . . . . . . . . .

5
6
7
8

Subtract line 4 from line 3. If zero or less, enter -0- . . . . . .
In each column, enter the smaller of line 5 or $2,000 . . . . .
Add the amounts on line 6. If zero, stop; you cannot take this credit
Enter the amount from Form 1040, line 38*; Form 1040A, line 22;
Form 1040NR, line 36 . . . . . . . . . . . . . . . .

9

Enter the applicable decimal amount shown below:
If line 8 is—
Over—

But not
over—

1

2
3

4
5
.
.
6
. . .
or
.
8

.

.

12

13
14

.

.

.

.

.

7

And your filing status is—
Married
filing jointly

Head of
household

Single, Married filing
separately, or
Qualifying widow(er)

Enter on line 9—

.5
.5
$16,500
.5
.5
$18,000
.5
.5
$24,750
.5
.2
$27,000
.5
.1
$27,750
.5
.1
$33,000
.2
.1
$36,000
.1
.1
$41,625
.1
.0
$55,500
--.0
.0
Note: If line 9 is zero, stop; you cannot take this credit.
Multiply line 7 by line 9 . . . . . . . . . . . . . . . . . . .
Enter the amount from Form 1040, line 46; Form 1040A, line 28; or
Form 1040NR, line 43 . . . . . . . . . . . . . . . . .
11
--$16,500
$18,000
$24,750
$27,000
$27,750
$33,000
$36,000
$41,625
$55,500

10
11

(b) Your spouse

1040 filers:

Enter the total of your credits from lines 47 through 49,
and Schedule R, line 24.

1040A filers:
1040NR filers:

Enter the total of your credits from lines 29 through 31.

.5
.2
.1
.1
.1
.0
.0
.0
.0
.0
.

9

.

.

.

.

.

10

%

12
Subtract line 12 from line 11. If zero, stop; you cannot take this credit . . . . . . . . . .
Credit for qualified retirement savings contributions. Enter the smaller of line 10 or line 13
here and on Form 1040, line 50; Form 1040A, line 32; or Form 1040NR, line 46 . . . . . . .
Enter the total of your credits from lines 44 and 45.

X.

13
14

*See Pub. 590 for the amount to enter if you are filing Form 2555, 2555-EZ, or 4563 or you are excluding income from Puerto Rico.

For Paperwork Reduction Act Notice, see back of form.

Cat. No. 33394D

Form 8880 (2009)

Page 2

Form 8880 (2009)

General Instructions

Line 4

Section references are to the Internal Revenue Code.

Enter the total amount of distributions you, and your spouse if filing
jointly, received after 2006 and before the due date of your 2009
return (including extensions) from any of the following types of
plans.
● Traditional or Roth IRAs.
● 401(k), 403(b), governmental 457, 501(c)(18)(D), SEP, or SIMPLE
plans.
● Qualified retirement plans as defined in section 4974(c) (including
the federal Thrift Savings Plan).
Do not include any:
● Distributions not taxable as the result of a rollover or a trustee-totrustee transfer.
● Distributions from your eligible retirement plan (other than a Roth
IRA) rolled over or converted to your Roth IRA.
● Loans from a qualified employer plan treated as a distribution.
● Distributions of excess contributions or deferrals (and income
allocable to such contributions or deferrals).
● Distributions of contributions made to an IRA during a tax year
and returned (with any income allocable to such contributions) on or
before the due date (including extensions) for that tax year.
● Distributions of dividends paid on stock held by an employee
stock ownership plan under section 404(k).
● Distributions from a military retirement plan.
If you are filing a joint return, include both spouses’ amounts in
both columns.
Exception. Do not include your spouse’s distributions with yours
when entering an amount on line 4 if you and your spouse did not
file a joint return for the year the distribution was received.
Example. You received a distribution of $5,000 from a qualified
retirement plan in 2009. Your spouse received a distribution of
$2,000 from a Roth IRA in 2007. You and your spouse file a joint
return in 2009, but did not file a joint return in 2007. You would
include $5,000 in column (a) and $7,000 in column (b).

Purpose of Form
Use Form 8880 to figure the amount, if any, of your retirement
savings contributions credit (also known as the saver’s credit).
This credit can be claimed in addition to any IRA
deduction claimed on Form 1040, line 32; Form 1040A,
line 17; or Form 1040NR, line 31.

Who Can Take This Credit
You may be able to take this credit if you, or your spouse if filing
jointly, made (a) contributions (other than rollover contributions) to a
traditional or Roth IRA, (b) elective deferrals to a 401(k), 403(b),
governmental 457, SEP, or SIMPLE plan, (c) voluntary employee
contributions to a qualified retirement plan as defined in section
4974(c) (including the federal Thrift Savings Plan), or (d)
contributions to a 501(c)(18)(D) plan.
However, you cannot take the credit if either of the following
applies:
● The amount on Form 1040, line 38; Form 1040A, line 22; or Form
1040NR, line 36, is more than $27,750 ($41,625 if head of
household; $55,500 if married filing jointly).
● The person(s) who made the qualified contribution or elective
deferral (a) was born after January 1, 1992, (b) is claimed as a
dependent on someone else’s 2009 tax return, or (c) was a student.
You were a student if during any part of 5 calendar months of
2009 you:
● Were enrolled as a full-time student at a school, or
● Took a full-time, on-farm training course given by a school or a
state, county, or local government agency.
A school includes technical, trade, and mechanical schools. It
does not include on-the-job training courses, correspondence
schools, or schools offering courses only through the Internet.

Specific Instructions
Column (b)
Complete column (b) only if you are filing a joint return.

Line 2
Include on line 2 any of the following amounts.
● Elective deferrals to a 401(k) or 403(b) plan (including designated
Roth contributions under section 402A), or to a governmental 457,
SEP, or SIMPLE plan.
● Voluntary employee contributions to a qualified retirement plan as
defined in section 4974(c) (including the federal Thrift Savings Plan).
● Contributions to a 501(c)(18)(D) plan.
These amounts may be shown in box 12 of your Form(s) W-2 for
2009.
Note. Contributions designated under section 414(h)(2) are treated
as employer contributions and as such they are not voluntary
contributions made by the employee. They do not qualify for the
credit and should not be included on line 2.

Line 7
Add the amounts from line 6 columns (a) and (b), and enter the total.
Paperwork Reduction Act Notice. We ask for the information on
this form to carry out the Internal Revenue laws of the United
States. You are required to give us the information. We need it to
ensure that you are complying with these laws and to allow us to
figure and collect the right amount of tax.
You are not required to provide the information requested on a
form that is subject to the Paperwork Reduction Act unless the form
displays a valid OMB control number. Books or records relating to a
form or its instructions must be retained as long as their contents
may become material in the administration of any Internal Revenue
law. Generally, tax returns and return information are confidential,
as required by section 6103.
The average time and expenses required to complete and file this
form will vary depending on individual circumstances. For the
estimated averages, see the instructions for your income tax return.
If you have suggestions for making this form simpler, we would
be happy to hear from you. See the instructions for your income tax
return.