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If you have contributed to a Qualified Plan (see excerpt below) according to your W-2 Box 12 - OR - if you entered your IRA contributions elsewhere in the program, TurboTax is trying to see if you qualify for a tax credit, Retirement Savings Contribution Credit, thus generating Form 8880.
However, if you didn’t step through the interview for Retirement Savings Contribution Credit to see if you met the qualifications, you could be getting an error when trying to finish your return.
To fix this, go directly to the Saver's Credit section in TurboTax (Online):
This should clear the error message and you should be able to continue to file.
More about this credit:
You may be able to take this credit if you, or your spouse if filing jointly, made (a) contributions (other than rollover contributions) to a traditional or Roth IRA (including a myRA), (b) elective deferrals to a 401(k), 403(b), governmental 457(b), SEP, or SIMPLE plan, (c) voluntary employee contributions to a qualified retirement plan as defined in section 4974(c) (including the federal Thrift Savings Plan), or (d) contributions to a 501(c)(18)(D) plan. AND
If you have contributed to a Qualified Plan (see excerpt below) according to your W-2 Box 12 - OR - if you entered your IRA contributions elsewhere in the program, TurboTax is trying to see if you qualify for a tax credit, Retirement Savings Contribution Credit, thus generating Form 8880.
However, if you didn’t step through the interview for Retirement Savings Contribution Credit to see if you met the qualifications, you could be getting an error when trying to finish your return.
To fix this, go directly to the Saver's Credit section in TurboTax (Online):
This should clear the error message and you should be able to continue to file.
More about this credit:
You may be able to take this credit if you, or your spouse if filing jointly, made (a) contributions (other than rollover contributions) to a traditional or Roth IRA (including a myRA), (b) elective deferrals to a 401(k), 403(b), governmental 457(b), SEP, or SIMPLE plan, (c) voluntary employee contributions to a qualified retirement plan as defined in section 4974(c) (including the federal Thrift Savings Plan), or (d) contributions to a 501(c)(18)(D) plan. AND
We're aware of the issue and working on a fix. To complete your return, when you enter Federal Review, you will see a section named "Answers to review." Click the "Review" button and answer all the questions. This will satisfy the required answers needed for Retirement Savings Contribution Credit.
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