401K contribution credit

[cgmartin]

I entered the correct info from my W-2, box 12 (Letter D) for my 401K contribution, however, the amount is not showing up anywhere. Normally a Schedule  1 or a form 8880 would come up to show the 401K I contributed, but it is not coming up and the amount is not showing on my form 1040. I only earned $39,000 in 2020. Does this amount exceed some kind of limit that would cause me not to get a credit?

[dmertz · Accepted solution]

Amounts shown with code D in box 12 of your W-2 should NEVER appear on Schedule 1.  If it appears on Schedule 1, it implies that you mistakenly reported it as an IRA contribution.  A 401(k) is not an IRA.

For a someone filing Single, $39,000 of AGI is above the limit where one would qualify for the Retirement Savings Contributions Credit, so TurboTax will omit Form 8880 from the tax return.  For someone filing Single, the limit is an AGI of $32,500.