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grieser-d
New Member

How can I manually go into a form to correct something that Turbotax is deducting from Schedule 1, but which should not be deducted (401K contribution)?

I don't understand why Turbotax is inserting the max allowable contribution to a retirement account (401k) but it exceeds what I actually contributed.
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1 Reply

How can I manually go into a form to correct something that Turbotax is deducting from Schedule 1, but which should not be deducted (401K contribution)?

One of us is probably confused.  If you are an employee with a W-2, your 401k contributions are automatically subtracted from your box 1 taxable wages, and they are reported in box 12.  Turbotax automatically captures them from your W-2.  You do not enter them anywhere else on your tax return.  A 401k is NOT an IRA and you should not enter 401k contributions in the IRA section.  401k contributions also don't have anything to do with schedule 1 as far as I know.  Can you clarify, where are you seeing an adjustment on schedule 1?

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