I am not sure what the split on employer paid versus self-contributed, but the maximum that can be contributed by the employer (thus the max that can be deducted on the business side) is 25% of total participant compensation.
In your scenario the compensation is $67,000 roughly so the MOST the business could deduct is in the $17,000 range. Does it seem like TurboTax is deducting about that much from the business?
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