Turbotax Error: Secure 2.0 increased SIMPLE IRA contribution limits, turbotax flags it as an error

[pippo2001]

For 2024, SIMPLE IRA employee (and self-employed) contribution limit is increased to $17,600 by Secure Act 2.0. But turbotax flags any contribution more than $16,000 as an error, and reduces the deduction.

Here is the rule:

Employees may defer up to $16,000 for 2024 ($19,500 if age 50 or older), however, the annual deferral limit and the age 50 catch-up contribution amount for employees will increase by 10% of the 2024 limit for employers with no more than 25 employees.

[SteamTrain]

The software isn't fully implemented yet.

If you are using the "Desktop" software, check for updates on 9 and/or 16 January to see if the weekly update fixes it.  (I usually wait until a day later like 10 or 17 Jan).

If you are using the "Online" software, go thru the entry again on 10 and/or 17 Jan to see if it gets set right.