Solved: Turbo tax help says the ovr 50 catch up contribution limit for a self-employed individual 401k plan is $5500 but pub 560 sys its $6000. Is pub 560 right.
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
TurboTax has you covered during Covid. Get the latest second stimulus info here.
cancel
Showing results for 
Search instead for 
Did you mean: 
New Member

Turbo tax help says the ovr 50 catch up contribution limit for a self-employed individual 401k plan is $5500 but pub 560 sys its $6000. Is pub 560 right.

 
1 Best answer

Accepted Solutions
Level 15

Turbo tax help says the ovr 50 catch up contribution limit for a self-employed individual 401k plan is $5500 but pub 560 sys its $6000. Is pub 560 right.

$5,500 was the catch-up limit for 2014.  In 2015 it changed to $6,000 and remains $6,000 for 2016.  I'll inform the moderators of the discrepancy in the TurboTax help.

View solution in original post

1 Reply
Level 15

Turbo tax help says the ovr 50 catch up contribution limit for a self-employed individual 401k plan is $5500 but pub 560 sys its $6000. Is pub 560 right.

$5,500 was the catch-up limit for 2014.  In 2015 it changed to $6,000 and remains $6,000 for 2016.  I'll inform the moderators of the discrepancy in the TurboTax help.

View solution in original post

Dynamic Ads
v
Privacy Settings