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Why does TurboTax red-flag the 457(b) maximum 3 year catchup contribution of $36,500?
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Why does TurboTax red-flag the 457(b) maximum 3 year catchup contribution of $36,500?
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Why does TurboTax red-flag the 457(b) maximum 3 year catchup contribution of $36,500?
That link does not work.
In the end, when is TT going to fix their software to account for the two age based contributions allowed for in:
- 403 - can be into the upper 30's
- 457 - 3 years to go and you can defer an additional 3K.
Even TT themselves have finally publicly acknowledged they know about this (I have for 2 years and my wife is taking advantage of both:
https://turbotax.intuit.com/tax-tips/retirement/are-403b-contributions-tax-deductible/L8AshU5Nb
"Additionally, if you have at least 15 years of service with an employer and have made average annual contributions of less than $5,000, the IRS permits an additional lifetime "catch-up" amount of $15,000 that you can use in $3,000 per year increments."
If they do not fix this issue in TT Tax this year, I may be returning my version to Costco.
Last year - those of us that took advantage of 403 and/or 457 Age Based Contributions had to print and snail mail returns and were not able to use e-file which is a benefit of TT that we pay for and do not receive.
Ridiculous.
What is the ETA of the software update TT?
- What do you have to say???
- Mark as New
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Why does TurboTax red-flag the 457(b) maximum 3 year catchup contribution of $36,500?
That link does not work.
In the end, when is TT going to fix their software to account for the two age based contributions allowed for in:
- 403 - can be into the upper 30's
- 457 - 3 years to go and you can defer an additional 3K.
Even TT themselves have finally publicly acknowledged they know about this (I have for 2 years and my wife is taking advantage of both:
https://turbotax.intuit.com/tax-tips/retirement/are-403b-contributions-tax-deductible/L8AshU5Nb
"Additionally, if you have at least 15 years of service with an employer and have made average annual contributions of less than $5,000, the IRS permits an additional lifetime "catch-up" amount of $15,000 that you can use in $3,000 per year increments."
If they do not fix this issue in TT Tax this year, I may be returning my version to Costco.
Last year - those of us that took advantage of 403 and/or 457 Age Based Contributions had to print and snail mail returns and were not able to use e-file which is a benefit of TT that we pay for and do not receive.
Ridiculous.
What is the ETA of the software update TT?
- What do you have to say???