When I click the box to Maximize Contribution to Individual 401(k), TurboTax calculates this but does show the amount. How do I see this calculated value?

[droslin]

On screen to input contributions to Individual and Roth 401(k) Plans, there is a box to input Employer Matching (Profit Sharing) Contributions, and beneath this is the ability to check a box to have TurboTax Maximize Contribution to Individual 401(k).

[ThomasM125]

It might be that you don't have any self-employment net income to allow you to make a contribution. In that case, no maximum deduction amount would appear in TurboTax.

[droslin]

I follow your explanation, so perhaps I have entered the data in the wrong spot for TurboTax to recognize.  I entered my self-employment income (from 1099-NEC) under the income and expenses section of Self-Employment Income and Expenses.  Everything else seems to flow through fine, and the calculation in Self-Employed Retirement Plans appears to be correct; I simply can not see it when I click the box to Maximize Contribution to Individual 401(k).  I estimate it to be correct by unchecking the box and entering various values in the box for Employer Matching (Profit Sharing) Contributions.  I am simply puzzled that I can not see the value.

[ThomasM125 · Accepted solution]

When you look on the screen that says [Taxpayer Name] Contributions, where you see the Maximize box, you are to enter what you contributed or will contribute to your retirement plan. A couple of screens later, it will show what your Maximum Allowed to Qualified Plans contribution is, which will show if you can make more or less contribution than what you said you were going to or had done. Your maximum contribution shows on this screen, not the screen where you see the maximize box.