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Level 1
posted Feb 22, 2021 1:10:18 AM

TurboTax said I overcontributed to my retirement plans. I think that is an error. Who shall I talk to?

I added the number under table 12 D and AA, the total is within $19500. But TurboTax said I contributed $37929 based on my W2. I don't know where the number comes from.  I only had C,D,W and AA under table 12. Thanks.

0 3 493
3 Replies
Level 15
Feb 22, 2021 3:25:19 AM

BUT....did you indicate that you contributed to an  IRA and ROTH IRA on the Deductions&Credits page of the software.   IF you did, go back to that page and take those$$ out.  401k's are not IRA's.    Any 401k contributions entered with your W-2 form are only entered with the W-2.....nowhere else in the software.

Level 1
Feb 22, 2021 11:09:05 PM

Thank  you for your reply. On the Deductions & Credits page, I have no IRA or 401K information.  I feel this is apparently an error. Am I forced to pay more to upgrade the service so I can talk with a live expert? 

Level 15
Feb 23, 2021 3:57:12 AM

Things to try:

 

1)   Reduce the ROTH amount in box 12 to an amount that would total both to 19,495, and check in case the is some strange rounding issue (especially if cents are involved in your individual box 12 entries).   IF that doesn't clear it, then try 19,000,  to see if the limit is still somehow set to the 2019 limit  (Don't forget to return it to the proper amount).

 

2)  IF #1 doesn't help,  Delete that W-2 entirely, and re-enter it manually....especially if you imported it the first time.

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Still no clue?

 

In Premier...you can call Customer Support.    Whether they can find the issue ??

What is the TurboTax phone number? (intuit.com)