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Get your taxes done using TurboTax
@guz1 wrote:
That's the problem. The error message that I get says "The maximum salary deferral retirement plans for 2024 is $30,500." It then points me to "Read IRS Publications 560 Retirement Plans for small business". TurboTax categorizes the deferral as a deferral into Retirement Plans into a small business and not into a 403(b).
What is the code in box 12 of your W-2. It should be E or BB.
If the "help text" refers to the wrong topic, that's an issue that maybe can be fixed. However, if your contributions are actually to a workplace 403b, and are coded correctly on your W-2, then you can ignore the overcontribution message and associated advice, because whether the advice is right or wrong, you don't actually have an over contribution.
March 5, 2025
6:41 AM