401(a)

[chenschuh]

Can you get a saver's credit from 401(a) contribution?

[chenschuh]

It's on box 14 of w2. Client told me she contribution 7% of her wage to it and her employer did the same % matching. It's part of the school system.

[Jim-from-Ohio]

yes

[ljr]

Our friend google doesn't say 401 (a)

if you input it on the w2 and it doesn't calculate then I guess not unless they are over the income limit?

[Just-Lisa-Now-]

401a are generally a profit sharing arrangement funded by the employer or it comes out of their total wage package, its not a pre-tax contribution by the employee, I say no, it doesnt qualify or it would be in Box 12.

[Jim-from-Ohio]

maybe, maybe not

 Yes, voluntary, elective deferral contributions to a voluntary, elective deferral contributions to a 401(a) plan are generally eligible for the Retirement Savings Contributions Credit. These contributions mus...

[chenschuh]

I looked at box 12 of proseries pro, can't find code to enter 401(a).

[sjrcpa]

This term 401(a) seems to be new (to me anyway) this year and is in the education space. I don't know any more than that.

I have seen other people ask this elsewhere.

IRC Section 401(a) defines Qualified Plan with 39 subsections so I still don't know.