My wife and I each have a separate small business with one different employee for each business. We can't figure out how to get two $500 credits for each of our employee pension plans with auto-enrollment. One Form 8881 is generated that can be linked to only one of our businesses, but not two or both. Likewise Form 3800 only shows the $500 credit for one of our businesses. How can be double our credit to $1000? TurboTax seems constrained to one Form 8881 and one Form 3800.
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To clarify, which version are you working in, Online or Desktop?
Desktop
In the desktop program go into "Forms" view and to form 8881. At the top of form 8881 is the section that shows which form to link the 8881 to. Make certain that it is linked to whichever one of you you want the first one linked to.
Then click add a form at the top and add form 8881. When that appears make certain that it is linked to the other of you. That should allow for the full credit amount.
Thanks, but Turbotax did not ask if I wanted to create a new copy. It just took me to the one I already filled out. In addition, removing the links doesn't seem to create a work-a-around. Form 8881 Credit for Auto-Enrollment Smart Worksheet only permits one $500 credit. Using override to total $1000 for each of 2 auto-enrollment plans (e.g. husband's separate from wife's) generates an error. Any other ideas?
You are correct. Form 8881 Part II is limited to a $500 credit. If you use the override option, you would need to print, sign, and mail the return. Also, overrides invalidate the TurboTax Accuracy Guarantee.
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