☰
✕
Sign In

Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Level 2
posted Nov 14, 2024 12:48:19 PM

Maximum 401(k) contribution limit needs updating

Turbotax 2024 WinPerRelease Version 024.000.0187 shows the maximum 401(k) plus catch-up contribution as $30,000. The correct maximum for 2024 is $30,500. The current version indicates that I have made a $500 overpayment, which needs correcting. Please correct this issue with the next update. Thank you.

0 1 9965
1 Replies
Level 9
Nov 14, 2024 1:42:20 PM

The download that is released in November is not a final version.  There will be many updates in the next two months before it will be ready for 2024 tax preparation.  You can still use it to get started.  These things will be corrected by tax filing time.