TurboTax calculated $381 penalty for making and ex...
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TurboTax calculated $381 penalty for making and excess contribution to 401k. In fact, I do not exceed tax-free limit of $19k. Can you explain why penalty was charged?

 
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TurboTax calculated $381 penalty for making and excess contribution to 401k. In fact, I do not exceed tax-free limit of $19k. Can you explain why penalty was charged?

TurboTax does not calculate any penalties for contributions to a 401(k).  You have mistakenly entered your 401(k) elective deferrals as IRA contributions.

 

A 401(k) is not an IRA.  Enter amounts shown in box 12 of your W-2 only in box 12 of TurboTax's W-2 form, nowhere else in TurboTax.  Go back and remove the mistaken entry you made under Deductions & Credits.

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