cjallo
New Member

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?