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New Member
posted Mar 13, 2023 3:06:38 PM

Can you decline the Retirement Savings Contribution Credit and continue to file? I qualify but I don't want it!

Without "accepting" this credit, I'm able to file free for Federal, only paying file for the state. The cost total would come to roughly $60, leaving me with a little less than a $20 refund (Fed and state combined).  But this credit I'm forced to take forces me to use Deluxe at an extra $59, meaning I get $0 refund, and still have to pay out of pocket to even file! That's ridiculous since I'm okay NOT having the credit added to begin with!

0 2 1935
2 Replies
Alumni
Mar 13, 2023 3:23:03 PM

apatt8396,

That credit is not eligible to students so let me dig around and see how you can convince TurboTax that you are a student.  

Level 15
Mar 13, 2023 3:24:21 PM

Yes, you can remove the Retirement Savings Contributions Credit, by indicating that you're a full-time student. 

 

Don't worry that you actually weren't a student; there's no indication on your filed return of how you answered this question, this is simply a workaround to remove the credit.

 

To remove your Retirement Savings Contribution Credit information in TurboTax Online:

  1. If you don’t see 2022 TAXES in the left pane, scroll down and select the dropdown to the right of Deductions & Credits and select Let’s get started, Pick up where you left off, or Review/Edit. 
    • Otherwise, in the left pane, select the dropdown to the right of Federal, then select Deductions & Credits 
  2. On the  Your tax breaks page, scroll down and select the Show more dropdown to the right of Retirement and Investments
  3. Select  Edit to the right of Retirement Savings Contribution Credit
  4. Select  Yes on the Tell us if [you] were a full-time student in 2022 page

This will remove the credit.