dmertz
Level 15

Retirement tax questions

There are two reasons that TurboTax might flag an excess contribution.  One is mistakenly entering the 401(k) contribution as an IRA contribution.  I addressed that in the first paragraph of my first reply and is the most common mistake that people make.

 

The other reason is that you contributed more to 401(k)s than allowed between the two employers combined.  I addressed that in the second paragraph of my first reply.

 

If the first reason doesn't apply, it seems that the second one would be the one describing the situation that you are encountering.