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New Member
posted Feb 8, 2024 6:15:09 PM

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?

0 2 433
2 Replies
Level 15
Feb 8, 2024 6:19:32 PM

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

Expert Alumni
Feb 8, 2024 6:23:14 PM

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.