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ma53
New Member

How much can I contribute to my 401k if I'm over 55 and recv'd a 1099 misc for over 100k? Turbo Tax is limiting my contribution for some reason.

 
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dmertz
Level 15

How much can I contribute to my 401k if I'm over 55 and recv'd a 1099 misc for over 100k? Turbo Tax is limiting my contribution for some reason.

Generally, with $100,000 of net profit from self-employment and being age 55 or over in 2018 your maximum regular elective deferral is $18,500, your maximum catch-up elective deferral is $6,000 and your maximum employer contribution is $18,587 for a total of $43,087 that could appear on Schedule 1 line 28. 

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