The "maximized contribution" button is simply a tool to help calculate what your maximum contribution limit is given the information you have already entered into the program. Generally, it would be used by someone who hasn't yet contributed to their plan when doing their taxes and wants to know what the maximum amount they can contribute is - so, they can check that box and then TurboTax will run a calculation and tell them a contribution amount. Then, they can contribute that amount by their plans due date.
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