Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
jdevin85
New Member

How do I take the Retirement Savings credit off? I dont want to be made to pay $80 for $19 extra.

 
3 Replies
dmertz
Level 15

How do I take the Retirement Savings credit off? I dont want to be made to pay $80 for $19 extra.

In the Retirement Savings Contributions Credit section indicate that you were a full-time student.  Doing so will have no effect on your tax return other than to remove Form 8880 and the requirement to upgrade from the Free Edition of TurboTax.

luckymonkey85
New Member

How do I take the Retirement Savings credit off? I dont want to be made to pay $80 for $19 extra.

wish they would give you the option if you want this credit. Or make it known if you are required to take it if eligible. 

Critter
Level 15

How do I take the Retirement Savings credit off? I dont want to be made to pay $80 for $19 extra.

Use the IRS Free File option if you qualify ... 

 

 

IR-2020-15, January 17, 2020

WASHINGTON — IRS Free File can save families, especially those with children, some money in 2020 plus find tax benefits such as the Earned Income Tax Credit. Free File is now available at IRS.gov/freefile.

 

Since its 2003 debut, Free File has served nearly 57 million taxpayers, saving them $1.7 billion using a very conservative $30 preparation fee. Young families with children are key beneficiaries of Free File, the public-private partnership between the IRS and 10 online tax preparation software providers.

 

"Free File can save young families money. It offers free software, free electronic filing and free direct deposit which is the fastest way to get a refund," said Ken Corbin, commissioner of IRS' Wage and Investment division.

 

Whether single or married, the taxpayers' 2019 adjusted gross income must be $69,000 or less to be eligible for free online tax preparation through Free File. Free File can help families find the tax credits and deduction they are due such as EITC. By answering a few questions, taxpayers can find out if they're eligible for EITC and other family-related tax benefits.

 

The IRS will begin processing tax returns on January 27. Most refunds are issued within 21 days. With Free File, you can even use any digital device, personal computer, tablet or smart phone. Free File products are mobile enabled so you can do your taxes on your smart phone or tablet and e-File with your hand-held device.

Here's how Free File works:

  1. Go to gov/freefile to see all Free File options.
  2. Browse each of the 10 offers or use a "look up" tool to help you find the right product. Each Free File partner sets its own eligibility standards generally based on income, age and state residency. But if your adjusted gross income was $69,000 or less, you will find at least one free product to use. Two products are in Spanish.
  3. Select a provider and follow the links to their web page to begin your tax return.
  4. Complete and e-file your tax return only if you have all the income and deduction records you need. The fastest way to get a refund is by filing electronically and selecting direct deposit. If you owe, use direct pay or electronic options.

You do not have to be EITC eligible in order to qualify for Free File. Any individual or married couple that meets the income limitation can qualify. First-time filers or college students are key users. Military personnel who meet the income requirement can use any of nine partner products. And seniors who want to file the new Form 1040-SR because they are over 65 and taking the standard deduction also can use Free File.

 

Remember, if you meet the income requirement you will find at least one free online product. To avoid fees for state tax returns, look for a partner that offers free state tax return preparation or check out your state's tax agency website to see if they are members of the State Free File program.

Dynamic AdsDynamic Ads
Privacy Settings
v