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Retirement tax questions
In 2024 TurboTax, there are separate boxes for the entry of the regular Roth 401(k) contribution ($23,000) and the Catch-up Roth 401(k) contribution ($7,500). Still, your contributions are limited to net earnings from self-employment. Net earnings are net profit minus the deductible portion of self-employment taxes. Also, make sure that you have entered your birthdate correctly, with the year of birth being 1974 or earlier.
‎January 19, 2025
5:38 PM