Amy is single.During 2013,she determined her adjusted gross income was $12,000.During the year,Amy also contributed $1,500 to a Roth IRA.What is the maximum saver's credit she may claim for the year?

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The saver's credit is a non-refundable tax credit available to eligible taxpayers who make contributions to retirement savings accounts. For 2013, the credit rate for a single filer with an AGI of $12,000 is 50%. The maximum contribution eligible for the credit is $2,000. Therefore, the maximum saver's credit Amy can claim is 50% of $1,500, which is $750.

Amy Is Single