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Can i file a 1040EZ form while contributing to a 457b plan

turbo tax says i need to submit taxes through the Deluxe package because i'm ineligible for 1040EZ because of box 12a on my W-2

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TomK
Expert Alumni

Can i file a 1040EZ form while contributing to a 457b plan

Did you contribute to a 457(b) plan?

The 457(b) plan is a type of non-qualified, tax advantaged deferred-compensation retirement plan that is available for governmental and certain non-governmental employers in the United States. The employer provides the plan and the employee defers compensation into it on a pre-tax basis.

That contribution would go on a Form 8880 (Credit for Qualified Retirement Savings Contributions) when you file your taxes.  There is no spot for that credit to be entered on a 1040EZ.

The Form 8880 credit will go on Line 34 of a 1040A or on Line 51 of a 1040.

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1 Reply
TomK
Expert Alumni

Can i file a 1040EZ form while contributing to a 457b plan

Did you contribute to a 457(b) plan?

The 457(b) plan is a type of non-qualified, tax advantaged deferred-compensation retirement plan that is available for governmental and certain non-governmental employers in the United States. The employer provides the plan and the employee defers compensation into it on a pre-tax basis.

That contribution would go on a Form 8880 (Credit for Qualified Retirement Savings Contributions) when you file your taxes.  There is no spot for that credit to be entered on a 1040EZ.

The Form 8880 credit will go on Line 34 of a 1040A or on Line 51 of a 1040.

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