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What is the amount of the saver credit

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Problem 1: Craig and Nikki are married and file a joint return. The couple has a modified adjusted gross income (MAGI) of $41,000. Craig contributed $2000 to his traditional IRA for the tax year. neither Craig nor Nikki have ever taken a distribution from a retirement plan. Assuming there is no limitation based on their liability. What is the amount of their Saver's Credit?

Option 1: $0
Option 2: $200
Option 3: $400
Option 4: $1000

Reference no: EM132979652

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