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Why is turbo tax saying I don't qualify for 401 k savings deduction? I contributed and this is shown in box 12

 
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Ashby
New Member

Why is turbo tax saying I don't qualify for 401 k savings deduction? I contributed and this is shown in box 12

The message probably just means you don't qualify for the Retirement Contribution Credit. The credit has a fairly low income phaseout.

In 2018 your adjusted gross income (AGI) also can’t be more than:

  • $63,000 if married filing jointly
  • $47,250 if head of household (with qualifying person)
  • $31,500 if single, married filing separately, or qualifying widow(er) with dependent child

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