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emr2004
New Member

It will cost me more to file for the Retirement Savings Contribution Credit than I will benefit from it. Can I waive my credit?

I will have to pay $39.00 to file the Retirement Savings Contribution Credit.  I will only save $28.00 in taxes.  Can I waive taking the credit?
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2 Replies
dmertz
Level 15

It will cost me more to file for the Retirement Savings Contribution Credit than I will benefit from it. Can I waive my credit?

You can remove the credit by indicating in the Retirement Savings Contribution Credit section that you were a full-time student.

MarilynG1
Expert Alumni

It will cost me more to file for the Retirement Savings Contribution Credit than I will benefit from it. Can I waive my credit?

While there is no way to officially 'waive' the Retirement Savings Contribution Credit, if you leave the entry off your W-2  in TurboTax, the program will not calculate it for you.

 

You could consider using an IRS Free File provider, and you'll be able to claim the credit. 

 

 

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