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New Member
posted May 31, 2019 9:28:42 PM

Why does this program only allow 6500 into a 401k when in fact this year is 18000 can be deferred this year?

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1 Best answer
Employee Tax Expert
May 31, 2019 9:28:46 PM

What section are you in?

You don't enter 401k contributions into TurboTax anywhere. Your 401k contribution has already been recorded in Box 12 code D on your W-2. If you made contributions through your employer, then entry of your W-2 is all that is needed.

IRA contributions are entered in the retirement section, not 401K's. IRA's have contribution limits of $5,500 ($6,500 if over 50).

1 Replies
Employee Tax Expert
May 31, 2019 9:28:46 PM

What section are you in?

You don't enter 401k contributions into TurboTax anywhere. Your 401k contribution has already been recorded in Box 12 code D on your W-2. If you made contributions through your employer, then entry of your W-2 is all that is needed.

IRA contributions are entered in the retirement section, not 401K's. IRA's have contribution limits of $5,500 ($6,500 if over 50).