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Maximum employer-provided 401K contributiion for over 55 (year 2019)
Hello, I'm over 50 and for 2019 I contributed 24985.00 to my employer provided 401K. I understand that is in keeping with the rules ($19,000 in 2019 plus catch-up contribution limits if you're 50 or older of $6,000 for workplace plan), for a total of 25,000. So I'm within that. However, TurboTax will only recognize only a deducation of $12,155 and states I over-funded by $12,930. I have tried multiple times to enter the info and I always get the same result. Please help!
‎November 23, 2020
7:09 PM