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Form 8880 is not being generated and I feel it should be - what am I missing?

Gotaxes
Level 3
Single individual with wages of $29754 - had contribution of $1901 to 457b. The Form 8880 is not being generated and I cannot figure out why. The Federal form
1040 shows line 11 as $29700 with taxpayer having liability of $1814. The $1901 457b contribution is listed on the W-2 in box 12. What am I missing. I feel this should qualify for saver's credit. Individual was not a full time student.
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8 Comments 8
Just-Lisa-Now-
Level 15
Level 15

Isn't there a box/question down on the fed info worksheet that you check for the 8880? 

About being a fulltime student or not, if you dont check it, it doesn't calculate


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

Do you have his date of birth entered on the Info worksheet?  How old is he?

Gotaxes
Level 3

There isn't a box you would check without prompt (re: red warning). The box on the Fed info worksheet is whether or not the individual was a full time student. Since the Form 8880 is not being generated the box warning does not appear. I did check the box as to no - not a full time student but still nothing. In the past, the Form 8880 would generate once the retirement contribution was listed in the W-2 box 12a. If you failed to list the contribution in box 12a, then you would not have a Form 8880 appear.

I'm stumped.

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Gotaxes
Level 3

Absolutely and no, the individual was not born after January 1, 2005.

What is missing?

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Gotaxes
Level 3

Thanks to all who responded. After stressing & thinking about this for the last few hours (!) I finally found the issue. Yes, this may have been something I had been told about or read about earlier but sure don't remember. On the W-2 screen (since this was a 457b - code g contribution) you have to check a box on the right side that says" If box 12 is: G - you check yes for is this an elective deferral. Wow, that was sort of garbled but if you look at the W-2 screen you will see what I am referring to.

 

Again, thanks for the help. 

Just-Lisa-Now-
Level 15
Level 15

Thanks, I'm not sure Ive noticed that box before.  I dont see Code Gs very often, but I'll keep an eye out now.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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mericson
Level 2

Adding to this thread as it appears nearest to my problem. Code BB in Box 12 (403(b) Roth elective deferral).

Had to go all the way down to Part X of Federal Information Worksheet to section entitled "Credit for Qualified Retirement Savings Contributions (Form 8880)" to check No on whether taxpayer was a full-time student (even though it was showing NO on 8880 already).

Now 8880 populating.

 

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Just-Lisa-Now-
Level 15
Level 15

Yea, that FT Student box way down on the Fed Info worksheet trips people up.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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