A non-refundable tax credit up to $1,000 ($2,000 for joint filers) that can be claimed by taxpayers who make an eligible contribution to a qualified retirement plan, such as an IRA, SEP, 401(k), 403(b), SIMPLE, or 457 plan. To be eligible, the contribution must be made by a person born before January 2, 1993 who is not claimed as a dependent on another tax return and whose modified adjusted gross income is $26,500 or less ($53,000 for joint filers).