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Can turbotax account for my 15year additional 401k catch up

I am contributing $3000 per year, as allowed by the IRS to catch up using the 15 year allowance.  I did this last year with no issue. This year TurboTax says I over contributed, but that is not true.  How do I fix this?
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5 Replies

Can turbotax account for my 15year additional 401k catch up

If you believe there is a program error, contact Support.

 

How do I contact TurboTax? (intuit.com)

Can turbotax account for my 15year additional 401k catch up

The IRS "15-year Special Catch-Up" applies only to 403(b) plans, not to 401(k)'s.  This IRS reference describes the allowable limits of those contributions:

https://www.irs.gov/retirement-plans/403b-plans-catch-up-contributions

**Answers are correct to the best of my ability but do not constitute tax or legal advice.

Can turbotax account for my 15year additional 401k catch up

Where are you trying to put these "catch up" payments in the program ?   There is no place to enter them so that may be your error.

Can turbotax account for my 15year additional 401k catch up

I don't believe Turbotax has ever correctly handled the special $3000 catch-up for 403(b) plans.

@dmertz 

@macuser_22 

Can you advise?

dmertz
Level 15

Can turbotax account for my 15year additional 401k catch up

I agree.  TurboTax does flag the special catch-up as an excess contribution (exceeding the section 402(g) limit) but doesn't take any other action as far as I know.  TurboTax does not enforce the section 402(g) limit.

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