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dljs0624
New Member

Can anyone tell me how to remove a retirement savings contribution credit that I didn't add?

My retirement savings contribution credit say 200$ but I didn't contribute anything so how do I fix this?
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7 Replies
DanaB27
Expert Alumni

Can anyone tell me how to remove a retirement savings contribution credit that I didn't add?

Please see these steps to delete Form 8880 retirement savings contribution credit after you verified you didn't have retirement contributions on you W-2 in box 12:

  1. Open or continue your return in TurboTax.
  2. In the left menu, select "Tax Tools" and then "Tools".
  3. In the pop-up window Tool Center, select "Delete a form".
  4. Select "Delete" next to the form/schedule/worksheet in the list and follow the instructions.

Please see What is the 2020 Saver's Credit? for additional information.

 

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dmertz
Level 15

Can anyone tell me how to remove a retirement savings contribution credit that I didn't add?

Simply trying to delete the Form 8880 will not work.  TurboTax will just regenerate it.

 

TurboTax will only give you this credit if you entered retirement contributions somewhere.  If no retirement contribution was actually made, this could be the result of either a mistaken entry of an amount in box 12 of your W-2, a mistaken entry of a IRA contribution or a mistaken entry of a self-employed retirement contribution.

Can anyone tell me how to remove a retirement savings contribution credit that I didn't add?

Make sure you are not eligible.

 

Entries on your W-2 in box 12 can make you eligible.

 

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

Can anyone tell me how to remove a retirement savings contribution credit that I didn't add?

KEEP the $200 credit  by using a FREE version if you qualify ...  if you don't qualify then to not get the credit simply click the box that says you were a student so it will not give you the credit.

 

 

 

If you qualify   you can use one of  the 10 IRS FREE FILE options to file a fed & state return for free ... but you must log in thru the IRS site :

 

https://www.irs.gov/filing/free-file-do-your-federal-taxes-for-free

 

 For Filing Season 2021, you must make $72,000 or below to use one of the 10  IRS Free File partner offers.

 

If you choose the TT option then you can log in with your same user ID and agree to switch to the FREE FILE option then your progress will be preserved.  This will only work if you qualify for the TT option which is NOT the same for other IRS FREE FILE options...

  

To qualify for free 2020 federal and state tax returns with the IRS Free File Program delivered by TurboTax, you'll need to meet at least one of these requirements:

 

  • A maximum 2020 adjusted gross income (AGI) of $39,000; or
  • You qualify for the Earned Income Tax Credit (EITC); or
  • You served as active duty military (including Reservists and National Guard) with a maximum 2020 AGI of $72,000 (you'll also need a military-issued W-2).

 

SlickKVI
New Member

Can anyone tell me how to remove a retirement savings contribution credit that I didn't add?

You can't delete that form. I did it multiple times and it wouldn't go away. Turbotax be trying to scam people into paying for deluxe service when I only did standard/simple return that was suppose to be free. 

dmertz
Level 15

Can anyone tell me how to remove a retirement savings contribution credit that I didn't add?

To remove Form 8880, in the Retirement Savings Contributions Credit section tell TurboTax that you were a full-time student.

Can anyone tell me how to remove a retirement savings contribution credit that I didn't add?

TT is not trying to scam you ... it is trying to complete a true and accurate return which is it's purpose.  Now if you don't want to upgrade to keep the credit then do as already suggested and simply disqualify yourself by saying you were a student.  The IRS doesn't require you to take any credit so this is not lying to the IRS. 

 

But if you want to keep the credit  AND  if you qualify to use one of the IRS FREE FILE options then wait for that option to open in a few days.

 

If you qualify you can use one of the  8  IRS FREE FILE options (AGI has to be  $73K or less in 2021)...  https://www.irs.gov/filing/free-file-do-your-federal-taxes-for-free

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