I have on ongoing Solo 401(k).
I follow the instructions at the "How do I enter a Solo 401(k) in TurboTax?" webpage ( https://ttlc.intuit.com/turbotax-support/en-us/help-article/self-employed/enter-solo-401-k-turbotax/... )
That seems to work fine. For a year that I also had my taxes done by an accountant, Turbotax 401k contribution amounts matched what the accountant said I should contribute.
Later in Turbotax, I get to the "Personal" section, sub-tab "Deductions and Credits", then "Done with Deductions" at the bottom of that page, we next go past pages for "Charitable Donations", "Income to High to Deduct An IRA Contribution", "Retirement Income Results" (e.g., a pension income, Roth IRA conversion amounts), and "IRA Contribution Results" (for after tax IRA).
After that, then we get to the "Retirement Deductions Results".
On the first line it shows "Keogh, SEP, SIMPLE and/or 401(k) Maximum" with a Total Contribution of "$0", when I had filled in, for 2019, $19000 and $6000 catch-up. Why is it "$0" here?
On the next line, in red letters, it says "Amount to be Contributed by Plan Due Date". This is a negative number and is not the amount that I have yet to contribute. The value is the amount of my business contribution to the 401(k) (from the maximum check-box choice) MINUS the $25000 employee contribution. This doesn't make sense to me.
This issue is shows up in 2019, 2020 and 2021 (maybe further back, too).
IF...my self-employed business contribution in a particular year is higher than the $26,000 (2021) maximum individual contribution, then the "Amount to be Contributed by the Plan Due Date" is a positive number, but, again, it is not the amount I have yet to contribute. The value is, again, the amount of my business contribution to the 401(k) (from the maximum check-box choice) MINUS the $25000 employee contribution. Just a positive number for type of year.
Can anyone explain how to remedy this situation? Is this a bug in the software for Individual 401(k) when the Employee (i.e., me) Elective Deferrals are made to a Roth 401(k) and there is also a Self-employed Employer (i.e., me) profit sharing contribution.
As a note, at least one other person posted a question about a negative amount in years past (although a very short question). I don't think the answer that I saw really answered the question (in part because that question was not very explanatory).
Thank you in advance.
