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I earned 10K self employment income. I contributed 10K to an Individual 401K. TT software says I can only contribute 9270 to 401K. My max is 19,500. Why does TT say 9270?
I put the full amount of my self employment income into an Individual 401K. TT software says I over contributed and will pay a penalty, why? What am I inputting wrong here?
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ā€ˇFebruary 6, 2021
9:53 AM