lharr57
New Member

Retirement tax questions

Hi, thanks for the response.  I understand what the maximum amount is both as an individual and an employer.  My question/concern is how TurboTax is calculating the "Amount to Contribute by Plan Due Date".  In my example the employee has contributed $20K and an employer match of $20K was made.  This brings the total to $40K.  The "Maximum Allowed to Qualified Plans" is $37,904.   If you subtract $40K from the $57, 904. then shouldn't the "Amount to Contribute..."  be $17,904?  Yet TurboTax says $37,904.