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I am not able to change my answer about a retirement contribution. It is giving me 101.00 more on my return. I do not want this credit, I change my answer but still wrong

 
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Rachel_W
Expert Alumni

I am not able to change my answer about a retirement contribution. It is giving me 101.00 more on my return. I do not want this credit, I change my answer but still wrong

If you are eligible for the Retirement Savings Credit (Savers Credit) but DO NOT want to claim it, you can elect to do so by indicating that you are a "full-time student" (even though you are not).  Indicating that you are a full-time student does not change your return in any way, except that it makes you ineligible for the Savers Credit.

To elect out of claiming the Savers Credit, even though you qualify to claim it, please follow these instructions:

  • Login to your TurboTax Account 
  • Click "Take Me To My Return"
  • Click "Federal" from the left side of your screen
  • Click "Deductions & Credits" from the top of your screen
  • Scroll down and click on "Retirement & Investments"
  • Click "Start" next to "Retirement Savings Contribution
  • Click "Yes" to "Did you contribute to a qualified retirement plan in 2018?"
  • Click "Yes" to "Were you a Full-Time Student for at least 5 months in 2018?"

Please click the link to this TurboTax FAQ for more information  What is the Savers Credit?

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1 Reply
Rachel_W
Expert Alumni

I am not able to change my answer about a retirement contribution. It is giving me 101.00 more on my return. I do not want this credit, I change my answer but still wrong

If you are eligible for the Retirement Savings Credit (Savers Credit) but DO NOT want to claim it, you can elect to do so by indicating that you are a "full-time student" (even though you are not).  Indicating that you are a full-time student does not change your return in any way, except that it makes you ineligible for the Savers Credit.

To elect out of claiming the Savers Credit, even though you qualify to claim it, please follow these instructions:

  • Login to your TurboTax Account 
  • Click "Take Me To My Return"
  • Click "Federal" from the left side of your screen
  • Click "Deductions & Credits" from the top of your screen
  • Scroll down and click on "Retirement & Investments"
  • Click "Start" next to "Retirement Savings Contribution
  • Click "Yes" to "Did you contribute to a qualified retirement plan in 2018?"
  • Click "Yes" to "Were you a Full-Time Student for at least 5 months in 2018?"

Please click the link to this TurboTax FAQ for more information  What is the Savers Credit?

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