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d-n-kamel
New Member

Rounding 401(k) amounts exceed the allowable limit by $1. Should I make any changes?

I made contributions to a traditional 401(k) and Roth 401(k) through my employer.  The amounts both came out to $xx.50 but when entered into TurboTax they were both rounded up to the next dollar.  When added together, they total $18,501 after rounding.  Should I round one of the numbers down so that they equal $18,500 like the numbers reported on my W-2? Or do I leave them alone, even though they exceed the limit?

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Accepted Solutions
MinhT
Expert Alumni

Rounding 401(k) amounts exceed the allowable limit by $1. Should I make any changes?

You should round down one of the amounts.

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1 Reply
MinhT
Expert Alumni

Rounding 401(k) amounts exceed the allowable limit by $1. Should I make any changes?

You should round down one of the amounts.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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