- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Why doesn't TurboTax understand 403(b) contribution limit with additional contribution for 15 years of service?
The normal 403(b) plan contribution limit for 2019 is $19,000, and TurboTax knows this.
The age 50 catch-up additional contribution is $6,000, and TurboTax also knows this as well.
The 15 years of service additional contribution is $3,000, but TurboTax doesn't seem to recognize this.
My wife, who is under 50 but meets the 15 years of service criteria, contributed $22,000 to her 403(b) in 2019 ($19,000 regular plus $3,000 for 15 years of service). TurboTax displays a screen that says "Let's Check Xxxx's Retirement Contributions" and has a link with steps to correct the overpayment, which is not actually and overpayment at all.
I can bypass this issue and continue for now, but will this impact my ability to file my taxes with TurboTax when it does all of its checking prior to filing?