I am over 50 years of age and am using Turbo Tax for Home
and Small Business 2018 and am working on my SELF-EMPLOYED RETIREMENT PLAN.
In my case, I have earned enough money to enable me to make
contributions to my:
- INDIVIDUAL 401K ELECTIVE DEFERALS
- CATCH-UP CONTRIBUTIONS
- EMPLOYER MATCHING (Profit Sharing) CONTRIBUTUIONS.
I have chosen to check the box to have Turbo Tax MAXIMIXE MY
CONTRIBUTIONS TO INDIVUDUAL 401(k).
Turbo Tax, in turn. tells me my maximin allowable contribution
to my 410(k) plan which is $24,500 and then on the summary screen tells me the
amount that it has ALREADY CONTRIBUTED TO ALLOWABLE PLANS.
I’m assuming that if I subtract the $24,500 from the Maximum
that Turbo Tax has contributed to allowable plans, that I arrive at the amount
of money contributed by my EMPLOYER MACHTING (Profit Sharing) CONTRIBUTIONS.
If this is assumption is correct, where in Turbo Tax can I check to
confirm the actual amount the Turbo Tax has allocated to my Employer Matching
Contributions?
Also, by what date does my employer (which is me) have to
make that contribution?
By what date do I have to make the $24,500 contribution to
my Individual 401K?
