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Level 1
posted Jan 18, 2021 1:31:59 PM

What does it mean when it says did you make a contribution from retirement plan I checked yes when I meant no how do I fix that

0 4 1012
4 Replies
Expert Alumni
Jan 20, 2021 9:50:46 AM

If you said YES at the screen that said Did you contribute to a qualified retirement plan? and then hit Continue in the lower right hand corner of the screen, TurboTax will bring up the Retirement Savings Contribution Credit under Your tax breaks.

 

On that screen, you do not have to click on Start to the right.  You may continue on to the next tax break. 

 

Or, if you are finished with Your tax breaks on this page, click on Wrap up tax breaks in the lower right hand corner of the screen.

 

 

 

Level 1
Jan 20, 2021 10:10:15 AM

So does that mean that I have a certain percentage taken out of paycheck? Thats why I checked yes because that's what I thought it meant

Level 1
Jan 23, 2021 12:58:52 PM

i was wondering the same thing. on my w2 number 12 has a code and a amount. I clicked yes also so i hope its right

Expert Alumni
Jan 23, 2021 1:10:40 PM

The software knows that box 12 indicates that money was contributed to a retirement account. Please do not enter that amount twice.