Why does it say I have Retirement Savings Contribution Credit when I shouldn't?

Yes, you may see a Retirement Savings Contribution Credit in your tax return if the data you entered makes it look like you qualify. 

 

How to fix it depends on why you don't qualify.

 

If you don't qualify because you were a student for at least five months during the year:

 

 

1. Sign in to your TurboTax account.
2. Select Deductions & Credits.
3. Select Edit to the right of Retirement Savings Contribution Credit.
4. Select Continue.
5. Answer Yes to Were you a full-time student for at least five months during 2023?

 

If you don't qualify because you didn't make any contributions, check your W-2 box 12 for any contributions listed there. 

 

If you have code D, E F, G, H, S, AA, BB, or EE with an amount, you may qualify for the Savers credit. In addition, contributions to an IRA or Roth IRA may qualify you for this credit.

 

If you still aren't sure, review the section to view the explanation of your results. 

 

 

1. Sign in to your TurboTax account.
2. Select Deductions & Credits.
3. Select Edit to the right of Retirement Savings Contribution Credit.
4. Select Continue.
5. Answer the questions according to your situation. 
6. You will see your result at the end.

 

If you still have questions, respond back with more details, including why you think you don't qualify for the credit and how much you are getting.