The contribution limit for IRA contributions Is 22,500 for FY23. Why am I over the limit?

[luissefigo]

My contribution to traditional IRA was 22500 for FY23.

[dmertz · Accepted solution]

An employer plan with an employee contribution limit of $22,500 is not an IRA-based plan.  Enter amounts shown in box 1 of your W-2 only in box 12 of TurboTax's W-2 form, nowhere else in TurboTax.  Remove from Deductions & Credits any entry you made there regarding these contributions.

The contribution limit for ordinary IRA contributions fro 2023 is $6,500 if under age 50 in 2023 or $7,500 if age 50 or over.