How can I correctly enter special catch-up contributions ($3000) to my 403(b) beyond the $30,000 limit for 2023 without Turbotax interpreting it as overpayment?
I double checked with my employer that I am eligible for up to $3,000 beyond the $30,000 limit for 2023. However TurboTax offers me no opportunity to override the message that I made $3k overpayment. Back in 2020 (below) you mentioned you ignore the message and file my mail (paper). Is this how to handle for 2023 taxes in TurboTax (deluxe pkg)? Thanks in advance.
postedlast updated May 26, 2020 5:31 PM
Enter the amounts shown in box 12 of your W-2 exactly as they are, only in box 12 of TurboTax's W-2 form, nowhere else in TurboTax. Do not enter them as IRA contributions, a 403(b) is not an IRA.
Although I think it's unlikely, if TurboTax warns you during entry of the W-2 that you are over the contribution limit, ignore the indication. If TurboTax will not allow e-filing with this condition present in your tax return, file by mail.
May 27, 2020 6:57 AM
February 28, 2024
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