topic Does the individual 401k maximize contribution functionality take into account contributions I made to another employer's 401k plan during the year? in Retirement tax questions

Does the individual 401k maximize contribution functionality take into account contributions I made to another employer's 401k plan during the year?

jgraham — Sat, 01 Jun 2019 05:37:08 GMT

Your employer reports 401(k) contribution in box 12 on yo...

macuser_22 — Sat, 01 Jun 2019 05:37:10 GMT

Your employer reports 401(k) contribution in box 12 on your W-2. They don't get entered anywhere else.

No, with regard to the $18,000 limit (plus $6,000 catch-u...

dmertz — Sat, 01 Jun 2019 05:37:10 GMT

No, with regard to the $18,000 limit (plus $6,000 catch-up if age 50 or over), TurboTax's Individual 401(k) Maximize function cannot account for elective deferrals or Roth contributions that you made to another employer's plan. You'll have to manually calculate and enter your permissible elective deferral or Roth contribution to your Individual 401(k), then indicate that you made a contribution to a Keogh plan and mark the Profit Sharing Keogh Maximize box to allow TurboTax to calculate only the permissible employer contribution.