Even after the latest updates, Turbotax is still limiting my contribution to the 19500 amount. The problem is Part V of the Keogh, SEP and SIMPLE Worksheet. This section limits the contribution to the sum of $19500 and the matching amount from the employer you entered under Part I, Section 5. So it overrides the 21450 maximum amount from Section IV and the amount you entered in Part I, Section 5. The lower, overridden amount is then transferred to the rest of the return into the 1040 worksheet and Schedule 1 thereby lowering your deduction. If Section V would be fixed like Section IV was already, then the forms would be correct. If you right click in the form and bring up the "about" section, it still contains the incorrect $19500 limit throughout the "about" section. It appears the Form was only partially updated making it continue to malfunction.
