Maximum Tax Credits

Maximum Tax Credits

Tax Year 2019

Single, Married Filing Separate, Unmarried Head of Household

Original Credit (Form 323) $ 569
Additional Credit (Form 348)* $566
Maximum Tax Credit $ 1,135

Married Filing Jointly

Original Credit (Form 323) $ 1,138
Additional Credit (Form 348)* $ 1,131
Maximum Tax Credit $ 2,269

*Additional Tax Credit is available only when the amount contributed is greater than the maximum that can be claimed on Form 323 (Original Credit)

 

Tax Year 2020

Single, Married Filing Separate, Unmarried Head of Household

Original Credit (Form 323) $ 593
Additional Credit (Form 348)* $ 590
Maximum Tax Credit $ 1,183

Married Filing Jointly

Original Credit (Form 323) $ 1,186
Additional Credit (Form 348)* $ 1,179
Maximum Tax Credit $ 2,365

*Additional Tax Credit is available only when the amount contributed is greater than the maximum that can be claimed on Form 323 (Original Credit)