I contributed to a Roth 401 plan and imput the amount in the program. The amount contributed was less than the ceiling amount. Yet the turbo tax software assumed the contribution was instead a Roth IRA which has lower tax free contribution amounts. The result is that the program now results in a higher tax liability. How do I correct for this defect?
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Amounts reported in box 12 of your W-2 are to be entered only in box 12 of TurboTax's W-2 form, nowhere else in TurboTax. You Roth 401(k) is not a Roth IRA, so no entry should be made under Deductions & Credits for the Roth 401(k) contribution. Go back and remove the entry that you made there.
My software of stuck o personal income. The section that asks Did you receive a Form 2439 for 2021. Any struddles or section 1256 contracts? Incentive stock options, Did you sell any investments in 2021 , etc. Would you please help me correct this so I can continue with my return.
You can click on any menu at the top or the left to get out of the section that you are in. If you click on Personal Income at the top or Income and Expenses if using the online version, you can start the next section of questions by scrolling down to Retirement Plans and Social Security and start that section.
If you are using the desktop version, you can choose the ''I'll choose what I work on'' and go through each section on your own. Or you can choose ''Walk me through everything''. If you choose this option, you will go back over and have to click through the Income sections you have already gone through.
I also have the same problem - even though I answer the questions (No in all instances) the 2021 software will not acknowledge my responses and repeats the questions over and over - not allowing me to advance with completing my taxes
It is a good idea to first clear your cache and cookies - which means removing all of the temporary programs that can gum up your web browser. If that doesn't work, try using a different web browser.
If that doesn't work I would recommend using the "Live Expert" help in the right upper corner to see if having someone walk you through helps.
Here is a link on how to clear your cache and cookies.
Here is a link to finding a TurboTax expert.
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