turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

in w-2 has code G which means you or your employer contributed money . to check if this counts credit if corpus christi independent school a state or local government

not sure how to answer this question is Corpus Christi independent school a state or local government since I contributed money to see I credit for retirement saving
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
DawnC
Employee Tax Expert

in w-2 has code G which means you or your employer contributed money . to check if this counts credit if corpus christi independent school a state or local government

Code G is for contributions to a 457(b) plan.   These contributions can qualify for the Retirement Savings Contribution Credit.    

 

Eligible retirement accounts for the Savers Credit include 401(k), 403(b), 457 plans, Simple IRA, SEP IRA, traditional IRA, and Roth IRA. 

 

  • 457(b) plans are tax-advantaged, employer-sponsored retirement plans offered to some government employees, as well as employees of certain tax-exempt organizations (such as school districts).
  • 457(b) plans are split into 2 different categories—governmental and non-governmental—depending on whether you work for the government or not.

To claim a Savers Credit, you have to be:

 

  • be age 18 or older
  • not be a full-time student
  • not be claimed as a dependent on someone else's tax return
  • have made your retirement contribution during the tax year for which you are filing your return
  • meet the income requirements - see Saver's Credit
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question