Is profit sharing a qualified retirement plan for contributions to form 8880? I am thinking i might need to amend my return.

[dmertz]

A profit-sharing contribution is an employer contribution, not an employee contribution.  It is therefore not includible on Form 8880.  Only voluntary employee contributions (elective deferrals or contributions to a Designated Roth Account) or IRA contributions made by the individual are includible on Form 8880.

Since a profit-sharing plan is a qualified retirement plan established under section 401(a), distributions from a profit-sharing plan reduce the amount of employee contributions or IRA contributions considered for the Retirement Savings Contributions Credit and must be included on Form 8880 line 4 if made during the period beginning two years prior to the tax year and ending on the due date of your tax return that includes this Form 8880.

[destiny829]

So I need to amend right?

[destiny829]

this was filed in 2016.  I just want a straight forward answer if I need to amend it or not.

[dmertz]

This is a public forum.  No one here has visibility into your tax return.  Unless you provide information describing what was originally reported on your 2016 Form 8880 and what might have been omitted or improperly included, it's impossible to determine if you need to amend.

[destiny829]

I just tried to see if it would let me amend but Its not giving my the option on my W2 it has retirement plan checked and in box 12 a it says code D and in box 12B it says Code DD, I can give you other information.  I'm not sure how to make turbo tax let me amend it tho.  It didn't increase how much I owe.

[dmertz]

The amount reported with code D in box 12 of your W-2 is amount of elective deferrals you made to your 401(k) (or federal TSP).   If you completed the Retirement Savings Contributions Credit portion of TurboTax's interview, you would have provided the additional information necessary to determine if you qualified for the credit and TurboTax would have automatically considered the code D amount when determining if you qualify for the Retirement Savings Contributions Credit.  If you qualified for the credit, TurboTax would then have automatically included Form 8880 in your tax return.  If you failed to complete this portion of the TurboTax interview, TurboTax might not have included From 8880 even though you might have qualified.  A tax credit can only decrease, not increase, your tax liability.

To amend a tax return, follow the instructions in this TurboTax FAQ:
<a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/1894381-how-to-amend-change-or-correct-a-return-you-already-filed"...>

[destiny829]

It did include the Form 8880, I was just freaking out because when I looked up if a Profit Sharing Plan qualified for the deduction everywhere said no but on W2 it has code D.