- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
I contributed to a Roth 401k, the software is saying I over-contributed but my plan provider disagrees.
I contributed 11,255 to a Roth 401k in 2019, box 12 of my W-2 shows "AA". The dollars were after-tax dollars. TurboTax H&B 2019 is telling me I went 4255 over the 7000 limit (6000 + over 50 catch-up).
My plan provider tells me that the limit for a Roth 401k is different than a regular Roth, and that my limit in 2019 was actually 19,000 with a 6,000 catch-up. I see what looks like supporting information at https://www.irs.gov/retirement-plans/roth-comparison-chart
If indeed I didn't go over the limit how can I stop the software from showing me as being over the limit and owing a penalty this year and every year until corrected?
March 26, 2020
12:26 PM