I have W2 and 1099 income.
For W2, I contributed $9K to my employer's 401(k) plan.
So, I want TT to calculate the max I contribute to my self-employment (1099 income) solo 401(k) plan. The TOTAL (W2 job + 1099 job) max should be $19,500, right?
But I check the box to have TT calculate the max 401(k) for my self-employment business and it says $28K.
What is going on??? I'm guessing the correct figure should be $19,500 - $9K (for the W2 job). So, $10,500.
Does TT have a bug?
(Curious where I can find the worksheet where TT is doing this crazy math)
