How do I remove the Retirement Savings Contribution Credit?

Forum|Forum|6 years ago
October 15, 2019
4 replies
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TurboTax Free Edition Online

Best answer by DoninGA

If you are eligible for the Saver's credit it cannot be removed. The Form 8880, Credit for Qualified Retirement Savings Contributions is created by the TurboTax software.

dmertz

Level 15

You can avoid getting the credit by telling TurboTax in the Retirement Savings Contributions Credit section that you were a full-time student, even if you were not. Doing so won't affect your tax return in any other way.

The only reason I can see that you might want to decline the credit is if the tax reduction provided by the credit is less than the cost to upgrade to TurboTax Deluxe.

dustin-delkAuthor

Level 2

Checking that I was a full-time student still removed the credit, however it still required me to attach a form 8880 and thus required me to upgrade to Deluxe. Even after pressing Clear and Start Over and then denying the Retirement Savings Credit, Intuit still wanted me to upgrade to TT Deluxe. Might be a bug.

dmertz

Level 15

That's not the behavior that I see. When I do this with a simple tax return using the online TurboTax Free Edition, initially indicating that I was not a full-time student, declining to upgrade to Deluxe, then going back and changing my answer to indicate that I was a full-time student, TurboTax permits me to file with the Free Edition. It seems that there is either some other aspect of your tax return that is requiring at least one of the Schedules 1 through 6 that is forcing the upgrade, or perhaps you did not originally decline to upgrade to Deluxe when prompted. If you did not decline to upgrade and you've already upgraded to Deluxe, I believe that the only way to downgrade is to clear your tax return and start over.

[Edit] Note that the Form 8880 may be present in your forms list visible via Tax Tools -> Tools -> Delete a form. Even though it is present in the forms list, if TurboTax is not giving you the credit, TurboTax will not include Form 8880 and force Schedule 3 in your filing.

DoninGA

Answer

Level 15

If you are eligible for the Saver's credit it cannot be removed. The Form 8880, Credit for Qualified Retirement Savings Contributions is created by the TurboTax software.

DonnyK

Level 2

I'm tired of all the forced up charges and after using Turbotax since its inception, I'm looking to file elsewhere.

tylerbren

Level 2

I'd rather not have the $90 credit and not pay Intuit for the extortion BS they pull on this. I've reported them to the FTC for extortion and I suggest everyone do the same. There should be a clear way to reject credits you don't want. TurboTax is only doing this in order to extract money from customers unethically.