I want to claim the "Small Employer Auto-Enrollment Credit" for both my business and my spouses (separate) business. Do I need to submit two 8881s or somehow type $1000 into line 9 instead of $500?
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According to the IRS Instructions for Form 8881, the Small Employer Auto-Enrollment Credit is $500 for the first tax year that an eligible employer first includes an eligible automatic contribution arrangement (as defined in section 414(w)(3)) in a qualified employer plan.
Based on this definition, each business would submit Form 8881 in order to claim the credit for that business. TurboTax automatically enters $500 on Line 9 if you check the Yes box to indicate an auto-enrollment option was provided. You cannot override that amount.
Thanks! Any guesses how to force Turbotax to generate a second 8881?
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