Tax Credit
There is an additional benefit for employees in certain income levels (see chart below). A tax credit of up to 50% of your contributions, depending on income, with a maximum of $2,000 may be taken on your federal income tax.
| Credit | Joint Filer | Head of Household | Other |
|---|---|---|---|
| 50% | $0 to $30,000 | $0 to $22,500 | $0 to $15,000 |
| 20% | $30,001 to $32,500 | $22,501 to $24,375 | $15,001 to $16,250 |
| 10% | $32,501 to $50,000 | $24,376 to $37,500 | $16,251 to $25,000 |