Why is there a $2 Retirement Savings Contribution on my taxes? I never paid into this. How do I get rid of it

Forum|Forum|3 years ago
January 19, 2023
2 replies
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TurboTax Free Edition Online

DoninGA

Level 15

If your W-2 box 12 does not have a code of D with an amount and you have not entered any IRA contributions then you need to delete the Form 8880

Click on Tax Tools on the left side of the online program screen

Click on Tools

Click on Delete a form

SteamTrain

Level 15

One thing...if your income is low, the contribution credit may be valid, but too low to warrant the forced upgrade to one of the paid versions of TTX that will actually allow you to use it.

IF you go thru the Retirement Savings Contribution Credit questions on the Deductions&Credits page....one of the questions asks if you are a student...you just say YES to that (even if you are not) and that $2 credit goes away......why pay $40 for Fed and another $40 for state filing for only $2 credit.

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*