Why? 457 contributions entered in box 12 of W2 are not showing in the Saver's Credit calculations of the tax return. Single - AGI is under 36,500. Is there a fix? Thank u

Forum|Forum|2 years ago
April 14, 2024
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I am trying to help my daughter with her tax return. The Saver's Credit did not calculate, but she appears to qualify. I had to manually enter the W2, as it didn't populate. I entered G from the pull down for box 12, which is described there as contributions to a 457 plan, which are supposed to qualify.
When I open the Saver's Credit section it displays that 0 contributions were made. Why is it not applying the contributions? What can I do?
Thank you for any help you can offer.

TurboTax Online

Best answer by dmertz

Only voluntary contributions to a governmental 457(b) qualify for this credit. Mandatory contributions and contributions to a nongovernmental 457(b) do not. Also, this credit is "nonrefundable," meaning that it cannot be used to reduce income tax below zero. If income tax is already zero without this credit, the amount of this credit will be zero.