Hi Community,
My question is regarding how to interact TurboTax software. I haven't made any contributions in 2023 but I got my 401k solo account opened in 2023. I plan to make contribution before April 15th, 2024. I don't know how to answer TurboTax questions. Below are steps:
made in 2023
.haven’t made all your contributions for the tax year and would like TurboTax to calculate your maximum contributions for the year
, check the box next to Maximize Contribution to Individual 401(k) and Continue.In this page,
because I plan to contribute for 2023, I check the "Maximize Contribution to Individual 401(k)" box.
Is my understanding correct?
Looks not.
The "Maximize contribution" checkbox will lead to "maximum allowed to qualified plans" 26474.
But I only want/plan to contribute 10000.
But I also cannot uncheck the checkbox because I didn't make any contribution in
A deadlock here....