tjrgary21
New Member

Hello- I did not contribute to a retirement plan and it is giving me $39 more but I have to pay for the deluxe edition for $80. I dont want to claim that or pay the $80

 

Retirement tax questions

Do you have a W2 with an amount in Box 12?  if so, whats the letter code next to that amount in Box 12?
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tjrgary21
New Member

Retirement tax questions

yes I do. Its a E

Retirement tax questions

Then you DO pay into a retirement plan through your employer.  Ive seen other people ask this question since it requires an upgrade to the paid version and the answer Ive seen was to tell the program you were a full time student and then the retirement credit wont be applied.

It seems like you could just leave that Box 12 Code E entry off the W2 entry screen and the retirement credit wouldn't be applied then either.
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tjrgary21
New Member

Retirement tax questions

Okay- Thank you- Can I get in trouble for saying I was a full time student when I wasnt? Or can I get in trouble if I remove the info from Box 12??

Retirement tax questions

You wouldn't get "in trouble".   IRS may correct it for you (but that's doubtful), and issue you that additional amount of refund that you would have received if you had filed with that retirement credit.
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tjrgary21
New Member

Retirement tax questions

Thank you so much! Your the best.. Which one would you do? Erase line 12 or say you were a full time student?

Retirement tax questions

Personally I'd just omit the code E entry in Box 12.    @dmertz   or @TaxGuyBill do you see an issue with just omitting the 403 contribution on the W2
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dmertz
Level 15

Retirement tax questions

Enter the W-2 box 12 items as indicated on the W-2.  Convince TurboTax to omit the Retirement Savings Contributions Credit from your tax return by telling TurboTax in the Retirement Savings Contributions Credit section that you were a full-time student.  This will cause TurboTax to omit Form 8880 and Schedule 3 from your tax return, have no other effect on your tax return, and the W-2 data transmitted to the IRS will match the W-2 sent to them by your employer.

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