topic Re: Maximize 401k contributions in Get your taxes done using TurboTax

Maximize 401k contributions

hesformes — Mon, 23 Feb 2026 10:56:31 GMT

I checked the maximize contribution box for my 401k. I am wondering if that includes maximizing both the employer and employee contributions? Since I am self employed I think I can contribute as both, correct? If checking the maximize box only maximizes the employee part of the contribution, how do I calculate how much additional I can contribute as the employer? Thanks

Re: Maximize 401k contributions

MarilynG1 — Wed, 11 Jan 2023 22:22:33 GMT

If you have already entered your business income/expenses, the 'Maximize Contributions' box will tell you what you can contribute as both employer/employee, as it it taking into account your net business income.

However, if you contribute to any other retirement plan, you will need to calculate your employer contribution yourself. Click this link for instructions if that applies to you.

Click this link for more info on the Maximize Contributions tool.

Re: Maximize 401k contributions

dmertz — Wed, 11 Jan 2023 23:51:16 GMT

TurboTax calculates the maximum combined employee and employer contributions, but does a very poor job of telling you how much of each.

Re: Maximize 401k contributions

hesformes — Wed, 11 Jan 2023 23:56:47 GMT

thanks. I don't need to know which is which, just that I contribute the true maximum. So this works.