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Level 1
posted Mar 11, 2024 6:24:46 AM

Can you tell me where in TT do I indicate I was eligible for retirement plan additional catchup contribution because of my 15+ years with my employer?

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3 Replies
Expert Alumni
Mar 11, 2024 9:42:02 AM

This should show up on your W-2 as a reduction in Taxable income and a contribution to you 403(b).

I'm not aware of any addition entries that you would have to make.

Are you getting any error message?

 

Level 1
Mar 13, 2024 12:08:22 PM

Yes, the software indicates I need to Fix my information because I have exceeded the $30K limit.  My hr retirement coordinator indicates because I am over a certain age and have more than 15 years service with my employer I am allowed an additional $3K catch up (for a limit of $33K).  Do I just file my taxes and wait for IRS to question it? Seems like Turbo Tax should allow me to enter information that would prevent a later IRS inquiry.

Expert Alumni
Mar 14, 2024 6:00:49 PM

Please see this discussion. Opus and dmertz are both very experienced tax people who are superusers.

 

I would just check to make sure that your final return looks the way you want it to.