Ok, thank you for the reply.
So the extra money beyond the $19,500 total must be what TT is calculating for the 25% of compensation that can be contributed as an option.
Where does TT show the calculations for the 401(k) allotment so I can check its work and see what exact amount I need to contribute to each part of the 401(k)?
In my case:
W2 company plan has 401(k). I contributed $9K
1099 self-employment business therefore has $10500 left for elective deferral
BUT, I can also contribute up to 25% of compensation for employer nonelective contribution.
When I click calculate MAX, TT says the total I can contribute for self-employment 401(k) is $28K. So I need to know what exact amount is elective deferral and what amount is for that 25% (employer nonelective contribution).
Thanks for any help.
