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Retirement tax questions
Is this still a problem with the 2024 products?
On a related note, today I spoke to a TurboTax expert on the phone and she said that if for year 2024 I contributed $30,500 ($23,000 + $7,500 over 50 catch-up) to ABC Company 401K and also contributed $30,500 to my Self-Employed 401k (even if not a profit sharing contribution) that it would be fine because together it is below the $76,500 maximum allowed to qualified plans. I was surprised by this answer but she was insistent that this is correct. Can anyone confirm or clarify this? Based on this thread it doesn't seem correct. Thank you.
‎January 23, 2025
2:32 PM