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Level 1
posted Feb 27, 2025 7:58:55 PM

Catch-Up Contributions to 403(b) in 2024

I'm 44 years old but I qualify for the Special catch-up contribution through my employer (over 15 years of service and educational organization), but TurboTax is indicating I over contributed. I don't see where to specify that it's a catchup contribution. The regular limit is 23K in 2024 and I contributed total of 24K to my 403(b) account.  I also confirmed with my employer that I qualify for this special catch-up contribution.  Is there a tax form I have to fill out and upload somewhere?

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

 

 

0 2 1954
1 Best answer
Level 15
Feb 27, 2025 8:10:12 PM

Turbotax does not recognize this situation.  I think you can just ignore the recommendation to remove the amount incorrectly flagged as "excess", and it won't have any effect on your tax return.  @dmertz ?

2 Replies
Level 15
Feb 27, 2025 8:10:12 PM

Turbotax does not recognize this situation.  I think you can just ignore the recommendation to remove the amount incorrectly flagged as "excess", and it won't have any effect on your tax return.  @dmertz ?

Level 15
Feb 28, 2025 7:20:08 AM

As Opus 17 indicates, you can ignore this warning from TurboTax.