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

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

tbrad5050
New Member

Do i have to claim my pre tax 401k contributions on my w2? i made 21k+ and only put in $150, am i required to enter this information for my return.

 
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
DawnC0
Intuit Alumni

Do i have to claim my pre tax 401k contributions on my w2? i made 21k+ and only put in $150, am i required to enter this information for my return.

Yes, because those contributions are on your W-2 and have been reported to the IRS.  However, you do not have to take the credit that the contributions qualify you for.  If you are trying to avoid upgrading to Deluxe, you can either  1.)  opt not to take the credit or   2.) take the credit using Free File software.  

  1. You can go back to the Retirement Savings Contribution Credit interview and answer YES to 'Did you make contributions in 2018?' and 'Were you a full-time student?' questions. You do not qualify for the credit if you were a full-time student in 2018.  It will also delete Form 8880 from your return.  You won't have to upgrade, but you also will not get the credit.  To get back there, go to Deductions & Credits or type ''saver's credit'' into the search bar, and use the Jump to link.  
  2. You can file using the Free File (you are using Free Edition now) version of the software IF you qualify.  To see if you qualify, click here.  https://turbotax.intuit.com/taxfreedom/  If you do qualify, you will need to create a new account with new User ID and password and start your return over.    

View solution in original post

4 Replies
DawnC0
Intuit Alumni

Do i have to claim my pre tax 401k contributions on my w2? i made 21k+ and only put in $150, am i required to enter this information for my return.

Yes, because those contributions are on your W-2 and have been reported to the IRS.  However, you do not have to take the credit that the contributions qualify you for.  If you are trying to avoid upgrading to Deluxe, you can either  1.)  opt not to take the credit or   2.) take the credit using Free File software.  

  1. You can go back to the Retirement Savings Contribution Credit interview and answer YES to 'Did you make contributions in 2018?' and 'Were you a full-time student?' questions. You do not qualify for the credit if you were a full-time student in 2018.  It will also delete Form 8880 from your return.  You won't have to upgrade, but you also will not get the credit.  To get back there, go to Deductions & Credits or type ''saver's credit'' into the search bar, and use the Jump to link.  
  2. You can file using the Free File (you are using Free Edition now) version of the software IF you qualify.  To see if you qualify, click here.  https://turbotax.intuit.com/taxfreedom/  If you do qualify, you will need to create a new account with new User ID and password and start your return over.    
tbrad5050
New Member

Do i have to claim my pre tax 401k contributions on my w2? i made 21k+ and only put in $150, am i required to enter this information for my return.

I went through the Retirement savings and put yes for the contribution, no for school because i wasnt in school this tax year. also i followed the link and it signed me into my normal turbotax after saying you may qualify. but how do i take the credit off so i dont have to upgrade?

Do i have to claim my pre tax 401k contributions on my w2? i made 21k+ and only put in $150, am i required to enter this information for my return.

If you do not want the credit and want to take it off then go back and check yes, you were a student.  The answer does not go anywhere on the tax return or affect anything else but will "fool" TurboTax into removing the 8880 form.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
tbrad5050
New Member

Do i have to claim my pre tax 401k contributions on my w2? i made 21k+ and only put in $150, am i required to enter this information for my return.

thank you
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies