I am filing a joint return with a combined income of $52,000.
We each contributed $1358 to a 401K.
Turbo tax gave one of us a $200 retirement saving credit and never gave the other one the credit.
Why didn't both of us get the $200 credit?
TT says contribution to a 401K qualifies.
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The credit can only bring your tax liability down to zero. Once your tax liability is zero, any remaining credit is lost.
Please look at Form 8880 and Schedule 3 line 4 to see the credit amount.
Please look at your 1040 line 22 to see if your tax liability was zeroed out.
(also the credit is not available to a student)
The credit can only bring your tax liability down to zero. Once your tax liability is zero, any remaining credit is lost.
Please look at Form 8880 and Schedule 3 line 4 to see the credit amount.
Please look at your 1040 line 22 to see if your tax liability was zeroed out.
(also the credit is not available to a student)
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