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Retirement Savings Contribution Credit Not Working?
My daughter should qualify for this credit as she is - not a student, over 18, not a dependent, under the AGI limit (her taxable income is $25,540). She made regular 401K contributions in 2022 into her work's plan. She should be eligible for the retirement savings credit, but Turbotax is not calculating it. When you go to the deductions and credits section it does not give a spot to enter 401K contributions, only IRA or Roth. In the personal income section, she entered her W2 401K contributions from box 12 and checked the retirement plan in box 13. The description says that Turbotax will calculate this credit but it is not showing anywhere. Please help?
March 13, 2023
9:15 AM