If you make certain contributions to an employer retirement plan or an individual retirement arrangement (IRA), or if you contribute to an Achieving a Better Life Experience (ABLE) account of which you are the designated beneficiary, you may be able to take a tax credit. The amount of the saver's credit you can get can be as low as 10% or as high as 50% and is generally based on the contributions you make and your adjusted gross income. The lower your income (or joint income, if applicable), the higher the credit rate; your credit rate also depends on your filing status. These two factors will determine the maximum credit you can take. You're not eligible for the credit if your adjusted gross income exceeds a certain amount. Dependents and full-time students are also not eligible for the credit. Use Form 8880PDF to determine the rate and amount of the credit. Claim the credit on Form 1040, U.S. Individual Income Tax Return, Form 1040-SR, U.S. Tax Return for Seniors or on Form 1040-NR, U.S. Nonresident Alien Income Tax Return. For more information, refer to Publication 590-A, Contributions to Individual Retirement Arrangements (IRAs), Publication 907, Tax Highlights for Persons with Disabilities, the instructions for Form 8880, Credit for Qualified Retirement Savings Contributions and Do I Qualify for the Retirement Savings Contributions Credit?