TurboTax is mistakenly reading my 401k contributions as IRA contributions and is telling me I overcontributed in 2023.

[meskij92]

I reviewed this issue with my HR finance department and they confirmed that I did not over contribute. How do I rectify this when filing my taxes?

[BillM223]

Where are you entering these contributions? 401(k) contributions are normally entered with a code D in box 12 on your W-2, but the IRA contributions are entered in quite a different place.

[meskij92]

I did not enter them myself, once I added a few details from my W-2 the rest was imported automatically. My contributions were coded as AA for Roth 401(k) contributions. I did not put anywhere close to the $22,000 limit according to both my W-2 and HR department, but TurboTax is reading my contributions as IRA contributions where I would have surpassed the $6500 annual limit.

[DanaB27]

Did you make any IRA contributions and enter them in the IRA contribution section?

For 2023 the total contributions you make each year to all of your traditional IRAs  and Roth IRAs can't be more than:

• $6,500 ($7,500 if you're age 50 or older), or
• If less, your taxable compensation for the year

Also, your Roth IRA contribution may be limited based on your filing status and income. Please see Amount of Roth IRA Contributions That You Can Make For 2023

If you didn't make any IRA contributions then please make sure that you do not have any entries in the IRA contribution section:

1. Click on "Search" on the top right and type “IRA contributions” 
2. Click on “Jump to IRA contributions"
3. Select "None of the above" and click "Continue"

[meskij92]

I did not have an IRA of any kind nor make any IRA contributions in 2023.

I was able to resolve my issue by clearing and starting over, entering all of my tax information manually rather than using the automatic import option.