Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
valanlage
New Member

Keogh/SEP/SIMPLE Cont Wksht: "Line 6a, elective deferrals to Individual 401k plans should not be greater that 18000" But I am 59 years old so it should be 24000, right?

 
1 Best answer

Accepted Solutions
dmertz
Level 15

Keogh/SEP/SIMPLE Cont Wksht: "Line 6a, elective deferrals to Individual 401k plans should not be greater that 18000" But I am 59 years old so it should be 24000, right?

TurboTax requires the $18,000 of regular elective deferral and the $6,000 of catch-up elective deferral to be entered on separate lines.  Go back to the Individual 401(k) section of the interview to make the correction by splitting the original $24,000 entry.

View solution in original post

1 Reply
dmertz
Level 15

Keogh/SEP/SIMPLE Cont Wksht: "Line 6a, elective deferrals to Individual 401k plans should not be greater that 18000" But I am 59 years old so it should be 24000, right?

TurboTax requires the $18,000 of regular elective deferral and the $6,000 of catch-up elective deferral to be entered on separate lines.  Go back to the Individual 401(k) section of the interview to make the correction by splitting the original $24,000 entry.

Dynamic AdsDynamic Ads
Privacy Settings
v