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Retirement tax questions
Where did you get the $19000 deferral number? (I never included $19000 in my question.) My combined matching profit sharing number is $43,304.
FIY, I spoke to Turbo Tax specialist and the specialist told me that there is a bug in the Turbo Tax system. There is no way for Turbo Tax software to add the "catch up for people 50 and older contribution to the total Solo 401 K contribution. I was advised that I would have to print out the form and manually add the $6000 Solo 401 K catch up amount to the printed form, but that Turbo Tax could not do the final tax calculations for me. So it would be a total waste of my time to use Turbo Tax for a Solo 401 K catch up contribution. I wish that Turbo Tax would post that information to the public, but I am guessing that they want to keep it hidden so as to not scare potential users away.