457b contributions catch up limit for age 62-65 is $37,000. I contributed $36,756 and I am unable to efile.

Forum|Forum|7 years ago
June 5, 2019
7 replies
32 views

Special 457(b) catch-up contributions, if permitted by the plan, allow a participant for 3 years prior to the normal retirement age (as specified in the plan) to contribute the lesser of:

Twice the annual limit $38,000 in 2019 and $37,000 in 2018

My plan allowed $37,000 maximum. I contributed $36,756.

TurboTax Premier Windows

NoMoreTT

Level 2

We have the same situation! I spent over an hour on the phone with Turbo Tax on Friday explaining that their "fix" on 4-4-19 only covered the regular over-50 catch-up provision (which is $6K) but not the second catch-up option for certain government plans when the employee is in their last three years, which allows 2x the annual amount ($37K in 2018). The person I spoke with on the phone understood what I was saying and she looked up the IRS Publication that explains it but when she was tried to tell her supervisor, that person insisted that the problem was already fixed and no more updates would be forthcoming.

I received an email from Turbo Tax this morning telling me that the issue was on my end and was not a problem with their program so I will now have to print and file a paper return.

Guess I won't bother paying the money for Turbo Tax next year since we'll have the same situation again and they don't seem to want to fix their software to accept the larger contribution amount. Frustrating!!

ncpdhom

Level 2

I have the same situation... I'm just below the $37K Special 457(b) catch-up contribution threshold and can't e-file. I just attempted to update my turbo tax application but found it was up to date. Print and file? Is that the only remedy.... really TurboTax?