Question

I need help with correcting an error on the Retirement Savings Contribution Credit - the answer is no and it won't let me change it

Forum|Forum|7 years ago
June 2, 2019
2 replies
0 views

and I don't want to upgrade turbo tax

TurboTax Free Edition Online

C

Coleen3

Employee

If you want to forgo the Saver's Credit, enter a disqualifier, such as, you were a full time student.

J

Jackie41

Ive followed all instructions to remove the 8880 form and the lousy $4 credit. Not possible. It forces you to upgrade and pay to use their service, even though i never contributed one cent to any type of retirement saveer in 2020

DawnC

Employee

If you contributed to a 401K through your job, those amounts qualify for the credit, and TurboTax automatically generates Form 8880. Other savings plan contributions will generate the credit as well. Full-time students are not eligible to take the credit, so if you indicate that you were a full-time student, you won't qualify for the credit. @Jackie41

You can go back through the Retirement Savings Contribution Credit questions and edit your answers if you were a full-time student during any 5 months of 2020. It can be found in the Deductions and Credits section, under Retirement and Investments