Knowledge Base

11608: 1040 - EF Message 5004

Rejects + EF Messages

I entered 401k contributions on the taxpayer’s W2. They appear as a credit on Schedule 3, line 4 (line 51 of the 1040 in Drake17 and prior), but why am I receiving EF Message 5004.

EF Message 5004:

Retirement plan contributions have flowed to Form 8880 and a credit for qualified retirement savings contributions has been calculated. Verify current-year distributions by entering them in the "20YY" field on line 4 of screen 8880.  If this is a MFJ return, repeat this step for the "Spouse" column. If there were no current-year distributions, enter a zero ("0") in that field.

To resolve this message:

  1. In data entry, open the 8880 screen, located on the second Credits tab.
  2. If there were current year distributions, enter the amount on the current-year line (line beneath line 4) for taxpayer (and spouse if needed). If no distributions were made, enter 0 (zero) on the current-year line.

Related Links

Also In This Category

Article has been viewed 6.1K times.
Last Modified: 3 Months Ago