dmertz
Level 15

Retirement tax questions

You are correct that, for a retirement contribution reported with code R in box 13 of a Schedule K-1 (Form 1065), 2023 TurboTax is still imposing the 2022 elective deferral limit of $27,000 instead of the 2023 limit of $30,000 for those over age 50.  Perhaps @BillM223 can report this.  I've sent Token 1213105 showing a simple example.

 

In my token example, changing the box 13 code R entry and the code R additional information entry to $27,000 eliminates the error.  The error reappears if the amount is changed to $27,001.

 

This error is present for both Taxpayer and Spouse although my token example shows only the Spouse entry.