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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.
March 19, 2024
8:20 AM