My daughter made a $1,200 contribution to an IRA for tax year 2017. Turbo Tax listed the $1,200 on form 1040A on line 17; "IRA Deduction." It also filled in form 8880 and used the same $1,200 amount to figure out a $600 credit.
It then inserted the $600 credit on line 34 of form 1040A as a "Retirement Savings." It seems to me that it should use either the $1,200 or the $600, but not both.
In comparison, my son contributed about the same amount to his 401K at his work for tax year 2017, but Turbo Tax did not insert any amount on line 17 of form 1040A, and only on line 34 of form 1040A. Is Turbo Tax doing this correctly?
