- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Excess Contribution to Solo 401k
Hello, I am getting a message from TurboTax that I've made excess contributions to my Solo 401k. However, the amount that I've entered into TurboTax as employee and employer matching contributions does not, as far as I understand it, exceed 2019 contribution limits. I have limited the employee contributions to my net income (which is less than $19,000) and the employer contributions to 20% of that income (total is less than $56,000). What might be going on?
Topics:
March 3, 2020
4:04 PM