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Form 8880, Credit for Qualified Retirement Savings Contributions

  • Used to figure the amount of allowable retirement savings contributions credit (saver's credit).

  • Form 8880 automatically populates for eligible taxpayers, who have retirement entries on their W-2 form in box 12. There are a few questions that must be answered to complete Form 8880.

Follow the instructions below to correctly complete the Form 8880:

  1. Navigate to Form 8880 using the Attached Forms Tree.

  2. Indicate whether the taxpayer/spouse was a full time student for at least 5 months, by checking the appropriate box.

  3. Complete the Validation Check by entering Y or N.

    • Enter Y, if the taxpayer/spouse withdrew from retirement in the 3 years prior to the current tax year (this is not asking about the current year).

    • Enter N, if the taxpayer/spouse did not withdrawal from retirement in the 3 years prior to the current tax year (this is not asking about the current year).

  4. If you answered Y in the Validation Check, you will need to enter the total of all retirement distributions in Line 4b for the taxpayer or spouse.

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