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tyl5024
New Member

How to get rid of retirement savings contribution credit?

I clicked no but it keep giving me a value
2 Replies
cameaf
Level 5

How to get rid of retirement savings contribution credit?

The retirement savings contribution is automatically generated based on entries from your W-2.  If you contributed to a 401K (or similar retirement savings) with your employer, you may have had amounts entered in box 12 (codes D-H) on your W-2. You will need to visit the section of TurboTax that address the credit for it to correctly calculate.  

  • While logged into your return, type in the words retirement credit in the search box (located in the upper right hand corner)
  • Click the Jump to retirement credit link that appears in the search results 
  • Go through the onscreen instructions (be sure to click yes that you contributed to a qualified retirement plan in 2017) and complete the interview. 

https://ttlc.intuit.com/replies/3301263

https://ttlc.intuit.com/replies/5997059

https://ttlc.intuit.com/replies/3300234

tyl5024
New Member

How to get rid of retirement savings contribution credit?

Thanks I was confused because the question said "Don't enter any of the $xxx in regular elective contributions that you made to employer-provided qualified retirement accounts." (So I couldn't add any extra). Since the number was different from the W2 I inputted I was confused. I didn't know the amount will differ depending on several factors, thanks guys.
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