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Level 2
June 1, 2019
Solved

Ask for Retirement account

  • June 1, 2019
  • 4 replies
  • 11 views
So when you select you have a retirement account, this includes 401k from your job correct
Best answer by

Yes, it does.  A 401(k) tax-deferred savings account qualifies as a "retirement account" for purposes of calculating any retirement savings tax credit to which you may be entitled (via Form 8880, which is part of the TurboTax program), as well as where it may be necessary to know elsewhere.

Thus, if you do have an active 401(k) through your employer, then please answer the software question with a "yes."

4 replies

Answer
June 1, 2019

Yes, it does.  A 401(k) tax-deferred savings account qualifies as a "retirement account" for purposes of calculating any retirement savings tax credit to which you may be entitled (via Form 8880, which is part of the TurboTax program), as well as where it may be necessary to know elsewhere.

Thus, if you do have an active 401(k) through your employer, then please answer the software question with a "yes."

Level 2
June 1, 2019
Thank you . I was pretty sure it did, just wanted  second opinion thank you!