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Deductions & credits
It's possible that the error that you are seeing has been fixed. I entered in the amount of $70,000 for the elective deferral and $7,500 for the catch up contribution and it calculated $77,500 for the total Individual 401(k) contribution. I tested the program a little further and entered $71,000 for the elective deferral and $7,500 for the catch-up and the program correctly determined that this was an excess contribution - and had $78,500 for the correct total contribution.
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2 weeks ago