turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cmtwombly
New Member

Does 414(H) apply for credit for retirement savings

 
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
ChristinaS
Expert Alumni

Does 414(H) apply for credit for retirement savings

No- they don't. Only certain elective deferrals qualify for the Retirement Saving's Credit. 414(h) contributions are not deemed as elective employee contributions for this purpose- they are deemed as employer, not employee, contributions (aka "pick-up").

From the Form 8880 instructions:

Contributions designated under section 414(h)(2) are treated as employer contributions and as such they are not voluntary contributions made by the employee. They do not qualify for the credit and should not be included on line 2.

https://www.irs.gov/pub/irs-pdf/f8880.pdf

https://www.irs.gov/government-entities/federal-state-local-governments/employer-pick-up-contributio...

View solution in original post

1 Reply
ChristinaS
Expert Alumni

Does 414(H) apply for credit for retirement savings

No- they don't. Only certain elective deferrals qualify for the Retirement Saving's Credit. 414(h) contributions are not deemed as elective employee contributions for this purpose- they are deemed as employer, not employee, contributions (aka "pick-up").

From the Form 8880 instructions:

Contributions designated under section 414(h)(2) are treated as employer contributions and as such they are not voluntary contributions made by the employee. They do not qualify for the credit and should not be included on line 2.

https://www.irs.gov/pub/irs-pdf/f8880.pdf

https://www.irs.gov/government-entities/federal-state-local-governments/employer-pick-up-contributio...

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies