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Roth 401k contribution for over 50
I understand that a sole proprietor may contribute up to 23000 to a Roth 401K with an additional 7500 catch up contribution for those over 50. When I try to enter an amount over 23000 in Home and Business in the "self employed retirement plans" section of "Business income and Expenses" the additional amount over 23000 up to a total of 30500 is not allowed.
How is this to be handled?
Thanks, Marcus
‎January 19, 2025
2:02 PM