This problem still persists. I relied on the maximize function for my new self-employed 401k, not realizing it didn't take into consideration the contributions made to a company 401k (even though those are designated by Code D on the W-2). I now realize that TurboTax permits the deferral total to exceed the max ($22,500 for 2023). So I now must amend my return (and pay more tax).
To be fair, when you go to the fine print of TurboTax's Keogh, SEP and SIMPLE Worksheet, it says: "Note: Maximum contribution calculations herein assume only one plan. Multiple plan contributions: see Help." But why can't that same warning show up in the step-by-step instructions, especially when the TurboTax coders should easily be able to make a connection between Code D on a W-2 and the Keogh, SEP calculation page.
