I already contributed X amount during 2022, and was planning to contribute an extra "Y" amount.
I'm trying to fill the info in Turbo Tax to simulate how my federal tax due changes with different amounts of additional contributions. But no matter what I do, the federal tax due remains exactly the same! How? Am I already over the maximum contribution and that's why no additional contribution will reduce the tax due?
The weird thing is that I also tried reducing the contribution (removed the employer match (profit sharing) and again nothing changes! still the very same tax due. What's going on??
I completely reset everything by removing the form (tools => delete a form => Keogh/SEP/SIMPLE Contribution Worksheet), so I'm sure I'm starting clean every time.
