You'll need to sign in or create an account to connect with an expert.
TurboTax automatically includes your 401(k) elective deferrals and Roth contributions shown in box 12 of your W-2 in determining this credit.
You can't have a 401(k) "outside" your job, a 401(k) is exclusively an employer-sponsored plan. You can have an IRA, but an IRA is not a 401(k). Your 401(k) should be reported on your W-2 and Turbotax will take the info from that.
The retirement savings credit has a pretty low income phase-out, and you can't be someone else's dependent to get it.
https://www.irs.gov/newsroom/get-credit-for-retirement-savings-contributions
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
Not applicable
carolinatbr16
New Member
hquist14
New Member
sebastiansalasg
New Member
Kelchambers90
New Member