daichovo
Returning Member

Solo401k not calculating correctly

My self-employed income net is about 57000.  I have no other income.  I'm a sole proprietor, business is just me.

Any calculation I use says that I should be able to put about $31,000 total in: $20,500 "employee" contribution, and additional $10,500 "employer" contribution (both are me).

Turbo tax says I can only put in $19,500 total.  If I enter in the 20,500 and 10,500 numbers nothing changes from if I just click "max account" and it puts $19,500.  Please help.