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April 14, 2025
Question

Retirement calculation error Turbotax 2024

  • April 14, 2025
  • 0 replies
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Hello, I am a self employed tech, and working on SEP IRA calculations on TurboTax 2024. No matter what I put in for the actual figure or choosing the "maximize contribution", TT is stuck using a 8899 figure while I was testing out different scenarios, even though I am allowed 16899. I had tested out if I put 8000 into a Roth which brought it down to the 8899, but that raised my current tax due by about 1500. I wiped out the Roth, unchecked the box for maximize deduction, and even manually put it in the full 16899 but it ignores it and puts 8899. Any thoughts? Thanks to all for the help!