dmertz
Level 15

Retirement tax questions

Ignoring any special catch-up contributions permitted to a 403(k) for employees with 15 years or more of service, the employee deferral limit is a limit on the combined total of employee deferrals to all of these plans.  For someone under age 50 the combined total is not permitted to exceed $22.500 for 2023 and for someone age 50 or over the total is not permitted to exceed $30,000 for 2023.

 

If you made a special catch-up contribution to the 403(b), TurboTax doesn't know that the special catch-up contribution is permitted and will erroneously flag the special catch-up as an excess contribution.