dd8840
New Member

Turbotax claims excess 401k contribution for self-employed (K1)

I entered my information just like last year: the base 23000 (last year was 22500) and the 7500 extra because I'm over 50.  But this year it's claiming this is an excess contribution and wants to recognize only 20541 of this amount.  How do I see what this is based upon?  My K-1 income increased from last year, so that shouldn't be the problem.