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Elective retirement deferrals reported on Form W-2 in Box 12 as Code G are not creating the retirement savings credit on Form 8880. Is this a software flaw?

Byron Jacobs
Level 1
 
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3 Comments 3
ATBLLC
Level 3

Just asking, but is the AGI above the limit where the retirement credit is phased out?

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Just-Lisa-Now-
Level 15
Level 15

I saw a similar complaint the other day.  I just tested it on a dummy return and youre right, Code G isnt flowing to the 8880 like Code D does.

@IntuitGabi   someone needs to take a look at this one!


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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TaxGuyBill
Level 15

Code G is for both elective and non-elective deferrals.

If it is an elective deferral, on the W-2 worksheet, look to the right of box 12 for the question about code G, and check the elective box.

I'm not very familiar with 457(b) plans, but interestingly if you check the "not a state or local government" box, it takes the credit away.  It seems that other ones may not qualify?

 

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