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Self employed
Enter the amounts like shown in the picture below, with $18,500 in the deferral box, then $6,000 in the catch-up box and check the Maximize contribution to Individual 401k box.
The message 'you can defer a maximum of $18,500 to a 401k plan' is not an error on the 'Your Self-Employed Retirement Deduction' screen. Deferral's and catch-up are different things. After you enter the catchup in its appropriate box, go to forms mode and check the worksheet again. $18,500 should be on line 6a and $6,000 should be shown on line 6c. Overrides will void warranties and cause errors.
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‎April 14, 2019
3:27 PM
1,992 Views