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Retirement Savings Credit - Turbo Tax not allowing to show regular deferrals

Turbo Tax is giving me a Retirement Savings Credit.  I don't think I should have one, as I did make deferrals to my school district's 403B plan. 

My W-2 does not reflect the deferrals.   So when the questions for the Credit for Retirement Savings come up, it says I have made $0 regular elective contributions.  It then proceeds to give me a credit and completes Form 8880.  

 

I do have an IRA, but did not make any contributions to that in 2020.  My husband has a 401K at work, which he makes elective deferrals to.  

 

We both contributed to our employer plans last year and did not get the extra Savings Credit.

 

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1 Reply
BillM223
Expert Alumni

Retirement Savings Credit - Turbo Tax not allowing to show regular deferrals

"My W-2 does not reflect the deferrals.  " - are you saying that in box 12 of your W-2, there is not a code E with a dollar amount? And are you saying that box 1 is not smaller than box 3 by the amount of the 403(b) deferral? Is this 403(b) a Roth plan?

 

Are you filing married joint?

 

It sounds like maybe you need a corrected W-2.

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