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Get your taxes done using TurboTax
Thanks for the reply, but you are INCORRECT. The catchup contribution in 2023 is $7500, not $6500, which is the limit for IRA contribution in 2023. So the total contribution limit is $30k for 2023.
My employer and the 401k/Keogh custodian Charles Schwab use the IRS tables to set the maximum contribution automatically.
Even if the limit was $29,000, for argument sake, why is turbotax flagging it as $27000?
This is a bug in the software, can we get someone to look at it?
March 18, 2024
11:51 AM