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Can I take the deduction for my Traditional IRA contribution and still receive the Saver’s Credit?

Last Updated September 11, 2012

Question: 

Can I take a deduction for my Traditional IRA contribution and still receive the Saver’s Credit?

Answer: 

Yes. If you meet the eligibility requirements for both, you can claim both on your tax return. See the articles The Saver’s Credit- an Often Overlooked Retirement Savings Benefit  and Active Participant Status–Can You Deduct Your IRA Contribution?