My W2 has the retirement plan box checked in Box 13. There is no code in Box 14, nor the amount that was contributed. On my paycheck, the retirement plan is a pre-tax contribution. My income is low and I am wondering if I am eligible for the retirement deduction credit. As I go through Turbo Tax, there is a section to input the amount contributed, but it says after tax contributions. Do I put the amount that I contributed pre-tax there to get the credit?
You cannot claim the retirement contributions credit for pre-tax contributions. The credit is for after-tax contributions, which were included in your reported income. Pre-tax contributions are already excluded from your income. You can't subtract them again by claiming the credit.
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