Discussion:Qualified Retirement Contribution Credit?
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Discussion Forum Index --> Tax Questions --> Qualified Retirement Contribution Credit?
| 28 March 2006 | |
| I have a W-2 that shows an amount in box 14 that totals $1,780 and the description reads "SARSE". Does anyone know what this stands for? If it is for retirement contributions, shouldn't it be listed in box 12? Taxpayer will qualify for the retirement contributions credit if this is what SARSE stands for. Thanks! | |
Chris2lane (talk|edits) said: | 28 March 2006 |
| Seems to me it stands for SARSEP,which I think no new plans have been around since 1996? Obviously, plans already in place have been grandfathered in. | |
| 28 March 2006 | |
| Chris2lane,
Thanks, do you know if this type of plan qualifies for the "Qualified Retirement Contribution Credit"? | |
Chris2lane (talk|edits) said: | 28 March 2006 |
| I do not see why it would not. A SARSEP follows similar rules to a SEP. I would have client contact employer to verify that they are indeed retirement contributions. If they are, then a corrected W2 will be necessary. | |
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