Taxpayer is retired and drawing a pension. Wife is employed and contributing to a 401k. Would the wife be eligible for the $200 credit if the husband is receiving pension? When i put in the pension amount on the 8880, the credit disappears. Sound correct?
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Form 8880, qualified retirement savings contribution? Question
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Originally posted by zeros View PostTaxpayer is retired and drawing a pension. Wife is employed and contributing to a 401k. Would the wife be eligible for the $200 credit if the husband is receiving pension? When i put in the pension amount on the 8880, the credit disappears. Sound correct?
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You need to check the instructions for Form 8880, line 4. You are saying "pension" but if it is a 401(k) or the like, that would do it. Distributions to either spouse from IRA's, 401(k), 403(b), SEP, SIMPLEs, and certain other qualified pension plans might eliminate the credit. What is checked in Box 7 of the 1099R?
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