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Business & farm
I infer from your question that you are intending on contributing less than the maximum permissible for your age and net profit. The results seem to suggest that you entered only $5,000 as your employer match/profit sharing contribution rather than $6,000, the amount necessary to make a total contribution of $24k.
Is $34k the amount that TurboTax indicates is your maximum contribution when you mark the Maximize box for an Individual 401(k)?
What amount is appearing on Form 1040 line 28?
Were you under age 50 at the end of 2017?
Is $34k the amount that TurboTax indicates is your maximum contribution when you mark the Maximize box for an Individual 401(k)?
What amount is appearing on Form 1040 line 28?
Were you under age 50 at the end of 2017?
‎June 3, 2019
10:23 AM