Question about box 12 on W-2

I am preparing my parents taxes this year and am a little stumped on box 12
on their W-2's. I have read my tax booklet over and over, either I am not
grasping the content or it does not go too much into detail about this. I
gather that this is a deduction for a retirement plan, is this correct? In
box 13 it is checked retirement. They have an amount in box 12, let's just
say $600 each.... and the letter provided is E. I was using 1040 easy but
cannot seem to find a credit to take for this. If I use a 1040 A there is
line 51 for Retirement Savings Contribution Credit. Does anyone know
anything about this box 12 and can I use this as a credit for them? They
are both bus drivers...and therefore boxes 1. and 5. are not the same on
their W-2's.
I am sorry, I don't mean to make things seem more complicated, I do our
own taxes with no problem, but since these differences are there, I am not
sure about a credit for them?

Here is another question, could this possibly fall in line 32 on 1040A for
an IRA deduction?
Thanks for your patience.
Sincerely....

.

Relevant Pages

  • Re: Form 8880 Line 4
    ... the investment credit in the spring of 2007 when we file taxes? ... purposes of completing Form 8880 to calculate the Retirement Savings ... I retired and recieve monthly pension checks from my employer's ... This was a plan to which I made no contributions. ...
    (misc.taxes)
  • Re: Form 8880 Line 4
    ... purposes of completing Form 8880 to calculate the Retirement Savings Credit? ... I retired and recieve monthly pension checks from my employer's retirement ... This was a plan to which I made no contributions. ...
    (misc.taxes)
  • Re: Born to be Mild
    ... No need for the cash to back up the credit eh? ... I'm glad to here that mate, ... I'm glad you can leave your bike without it getting half inched too and I REALLY wish it was the same here, ... Sod the kids.....enjoy your retirement! ...
    (rec.motorcycles)
  • Re: Question about box 12 on W-2
    ... I have read my tax booklet over and over, ... In box 13 it is checked retirement. ... > Savings Contribution Credit. ... I'm guessing that the bus company is run by some local ...
    (misc.taxes)