TurboTax 2020 Error.

[droids13]

I have already filed my Federal Tax return back in February 2021. After reviewing the file, due to a question on my State return, I noticed an error in how TurboTax reported my Federal Return. On my Spouse's W-2 she had a Retirement Plan contribution. When we filed, TurboTax did not create a Schedule 3 which subsequently did not include a value on line 20 of my Federal Tax Filing; which would have increased my refund. Is this a deduction which occurred after our filing or a TurboTax error? I noticed the error after I started a return from the beginning, not importing information from my 2019 return. I did this on a suggestion that Turbotax might adjust my State Filing. In addition, I cannot find the section where I can revise/correct personal information, imported over, that is no longer valid, such as my spouce's telephone contact number. Any suggestions? I am thinking, in 2021, to start a return from the beginning. It also brings up concerns that previous returns did not have the correct information.

[DoninGA]

Are you referring to the Retirement savings contributions credit?  Does the W-2 have code of D in Line 12?

This credit would have been included if you were eligible for the credit.

Go to this IRS website for the Saver's Credit eligibility - https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-savings-contributions-save...

[droids13]

I am referring to the Retirement savings contribution credit. The W-2 does have a  code of D in Line 12. The code even shows up on the Form W-2 generated by TurboTax. Based on the link you provided, we are eligibile for the credit. I am not sure the reason the first time I started the return that we did not qualify (after importing the information from our 2019 return) and now we do qualify (after starting a return from the beginning, without importing). Is this a new credit? 

[DoninGA]

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@droids13 wrote:

I am referring to the Retirement savings contribution credit. The W-2 does have a  code of D in Line 12. The code even shows up on the Form W-2 generated by TurboTax. Based on the link you provided, we are eligibile for the credit. I am not sure the reason the first time I started the return that we did not qualify (after importing the information from our 2019 return) and now we do qualify (after starting a return from the beginning, without importing). Is this a new credit? 

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The Credit for Qualified Retirement Savings Contributions has been available since 2002.

[droids13]

Thank you for the reply. Then, can you explain the reason the program did not apply the credit the first time? I reviewed everything and cannot find the error. I answered the questions the same each time. I even deleted the W-2 and reimported the information. In addition, now I need to file an amended return.

[droids13]

What I am finding out, is that in 2019 I took a distribution, even though we paid it back within the 60 window. Should I remove the distribution amount when I file the 2020 return or does the distribution still count?

[DoninGA]

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@droids13 wrote:

What I am finding out, is that in 2019 I took a distribution, even though we paid it back within the 60 window. Should I remove the distribution amount when I file the 2020 return or does the distribution still count?

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A distribution in 2019 would only be reported on a 2019 tax return and if you returned in within 60 days it would not be counted as a contribution in 2019.

[droids13]

Thank you. I will need to file an amended return.

[Sandra Mackey]

My Retirement from the State of NewHamphire was not included in the filing that I filled out

[BillM223]

@Sandra Mackey

Does your question have anything to do with the original post above? If you have a different question, it's a good idea to create a new post to avoid people who want to help you.

"My Retirement from the State of New Hampshire was not included in the filing that I filled out"

Are you referring to your pension not being on your New Hampshire state return? Pensions are not taxed in New Hampshire.

Or did you have a different question? Remember that we in the Community cannot see your private tax data, so help us help you.