Form 8880 Ret Sav Credit


B

bh2os

Will my income from a qualified retirement plan, all taxable, Box 7 is
coded with a 7. Cause the 8880 to be nullified even if my wife
contributes to her 401K and all income is under 38K.

tks all

bw
 
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P

Phil Marti

Will my income from a qualified retirement plan, all taxable, Box 7 is
coded with a 7.  Cause the 8880 to be nullified even if my wife
contributes to her 401K and all income is under 38K.
Yes, on a joint return. See what happens with Married, Filing
Separately.

Phil Marti
VITA/TCE Volunteer
 
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A

Alan

Will my income from a qualified retirement plan, all taxable, Box 7 is
coded with a 7. Cause the 8880 to be nullified even if my wife
contributes to her 401K and all income is under 38K.

tks all

bw
This credit is limited by your AGI. If your AGI exceeds $27750 (single
or MFS) there is no credit. On a joint return, the limit is $55,500.
 

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