In most situations, TurboTax will calculate the saver's credit for you based on your income and retirement contributions.
To check on your savers credit:
- Select Tax Tools from the black menu pane on the left.
- Then select Tools
- From the Tools Center screen select Topic Search
- Type 8880 into the topic search box and select Go
- This will take you to the savers credit.
Contributions to an ABLE account are not tax-deductible, but all investment earnings remain untaxed as long as money taken from the account is used for "qualified disability expenses." Such expenses include, among other things:
- Medical treatment
- Education, tutoring and job training
- Special-needs transportation
- Assistive technology
- Housing
- Legal and administrative fees
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
