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New Member
posted Jun 7, 2019 3:37:42 PM

My employer puts my H&W into a 401(k) because I did not purchase their health insurance. Does this amount qualify as a Retirement Contribution Credit?

My employer puts my H&W into a 401(k) because I did not purchase their health insurance. Does this amount qualify as a Retirement Contribution Credit?

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1 Best answer
Expert Alumni
Jun 7, 2019 3:37:43 PM

Only your own contributions into a 401(k) or other plan "count" for purposes of the Credit for Qualified Retirement Savings Contributions (Form 8880). Amounts contributed by your employer, for whatever reason, do not help you qualify for the credit.

The credit is calculated nearly automatically based on your income and the Code D in Box 12 of your W2.

You are not eligible if your Adjusted Gross Income is more than $30,750 ($46,125 if head of household; $61,500 if married filing jointly).

https://www.irs.gov/pub/irs-pdf/f8880.pdf

3 Replies
Expert Alumni
Jun 7, 2019 3:37:43 PM

Only your own contributions into a 401(k) or other plan "count" for purposes of the Credit for Qualified Retirement Savings Contributions (Form 8880). Amounts contributed by your employer, for whatever reason, do not help you qualify for the credit.

The credit is calculated nearly automatically based on your income and the Code D in Box 12 of your W2.

You are not eligible if your Adjusted Gross Income is more than $30,750 ($46,125 if head of household; $61,500 if married filing jointly).

https://www.irs.gov/pub/irs-pdf/f8880.pdf

New Member
Jun 7, 2019 3:37:44 PM

Thank you!

Expert Alumni
Jun 7, 2019 3:37:46 PM

You're welcome!