dmertz
Level 15

Deductions & credits

This is just one of many rounding oddities throughout TurboTax that Intuit has chosen to deem insignificant, caused by TurboTax loosely interpreting the rounding rules.

 

Is it just a coincidence that the precise amount of net earnings from self employment exactly matches the maximum permissible regular elective deferral for 2023 of $22,500?  If the $24,210 amount was artificially chosen (although I don't know why one would do that since that amount doesn't accommodate making any employer contribution after maximizing the regular elective deferral), just increase it to $24,211 to get the deductible portion of SE tax to agree between Schedule SE and the Keogh, SEP and SIMPLE Contribution Worksheet, resulting in a full $22,500 of SE retirement deduction.