Federal Form 8880 Instructions
For the latest information about developments related to Form 8880
and its instructions, such as legislation enacted after they were
published, go to www.irs.gov/form8880.
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).
TIP. 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 32.
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
- The amount on Form 1040, line 38; Form 1040A, line 22; or Form
1040NR, line 37, is more than $30,000 ($45,000 if head of
household; $60,000 if married filing jointly).
- The person(s) who made the qualified contribution or elective
deferral (a) was born after January 1, 1997, (b) is claimed as a
dependent on someone else's 2014 tax return, or (c) was a student.
CAUTION. You will need to refigure the amount on Form 1040, line
38, if you are filing Form 2555, 2555-EZ, or 4563 or you
are excluding income from Puerto Rico. See Pub. 590-A
You were a student if during any part of 5 calendar months of
- 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.
Complete column (b) only if you are filing a joint return.
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
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.
Enter the total amount of distributions you, and your spouse if filing
jointly, received after 2011 and before the due date of your 2014
return (including extensions) from any of the following types of
- Traditional or Roth IRAs.
- 401(k), 403(b), governmental 457, 501(c)(18)(D), SEP, or SIMPLE
- 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-to-
- Distributions that are taxable as the result of an in-plan rollover to
your designated Roth account.
- 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.
- Distributions from an inherited IRA by a nonspousal beneficiary.
If you are filing a joint return, include both spouses' amounts in
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 2014. Your spouse received a distribution of
$2,000 from a Roth IRA in 2012. You and your spouse file a joint
return in 2014, but did not file a joint return in 2012. You would
include $5,000 in column (a) and $7,000 in column (b).
Add the amounts from line 6 columns (a) and (b), and enter the total.
Before you complete the following worksheet, figure the amount of
any credit for the elderly or the disabled you are claiming on Form
1040, line 54. See Schedule R (Form 1040A or 1040) to figure the
Credit Limit Worksheet
Complete this worksheet to figure the amount to enter on line 11.
|1. Enter the amount from Form 1040, line 47;
Form 1040A, line 30; Form 1040NR, line 45
2. Form 1040 filers: Enter the total of your
credits from lines 48 through 50 and Schedule
R, line 22.
Form 1040A filers: Enter the total of your
credits from lines 31 through 33.
Form 1040NR filers: Enter the total of your
credits from lines 46 and 47
|3. Subtract line 2 from line 1. Also enter this
amount on Form 8880, line 11. But if zero or
less, stop; you cannot take the credit - do not
file this form