ewoconnor
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That sort of works. However, I know from past years' experience North Carolina will not recognize the payments if it the amount is not entered on the right line...
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Okay. Yes you were right the k-1 preparer should have put the $13,750 in box 13 instead of as an “other” in box 20. Once I put it in using the easy guide, it al...
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The box 14 code A amount is over $217k and above the $275k cap. The $41,250 is a 15% profit share of the $275k. The total contribution was $55k.
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The election was made in January ‘18, so no issue there. I’ll ask the preparer about it. But Even if I type in $55k for the code R amount, TurboTax disallows it...
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Yes, so there is $41,250 that is a profit share contribution and a $13,750 elective deferral. TurboTax seems to have a $41,250 limit on code R amounts.
Activity Feed for ewoconnor
- Posted NC K1 Line 9 on State tax filing. April 12, 2024 6:09 AM
- Got Cheered for Re: I have a North Carolina K-1 showing an amount of withheld tax on line 9. How do I get this to.... April 13, 2023 11:09 AM
- Posted Re: I have a North Carolina K-1 showing an amount of withheld tax on line 9. How do I get this to... on State tax filing. April 13, 2023 10:05 AM
- Posted Okay. Yes you were right the k-1 preparer should have put... on Retirement tax questions. June 1, 2019 6:49 PM
- Posted The box 14 code A amount is over $217k and above the $275... on Retirement tax questions. June 1, 2019 6:49 PM
- Posted The election was made in January ‘18, so no issue there.... on Retirement tax questions. June 1, 2019 6:49 PM
- Posted Yes, so there is $41,250 that is a profit share contribut... on Retirement tax questions. June 1, 2019 6:49 PM
- Posted Thanks! I tried that, but it flags the $13,750 as an erro... on Retirement tax questions. June 1, 2019 6:49 PM
- Posted I have k-1 income and 401(k) contributions above the box 13 code R limit. How do I get the full deduction on line 28 of the 1040? on Retirement tax questions. June 1, 2019 6:49 PM