Using Desktop Mac Version
I have a K1 (1065). I contributed $30,000 to my 401k plan ($22,500 + $7,500 catch being over age 50). I inputted this amount ($30,000) ) into Box 13, Code R-7 (Payments made to an Individual 401K plan)
When I run the smart check, I get the above error: Taxpayer elective deferrals to an individual 401k plan should not be greater than $27000
Opening the Worksheet:
6a: I try to put 22500, still gives an error and makes 6d more than 30000. Putting 0 or blank also gives an error
6b: Cannot change the value of 30000
6c: Enter catch-up contributions - I try 7500 but changes 6d to more than 30000
6d: Total elective deferrals--value is not correct (should be 30000, but changing 6a or 6c increases that)
I think there is an issue with program importing and adding up the wrong numbers
