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February 24, 2025
Question

Keogh/SEP/SIMPLE Contribution Worksheet: Line 6a, Taxpayer elective deferrals to Indiv 401k plans and to Roth 401k plans should not be greater than 23K. My line 6a=$23K.

  • February 24, 2025
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Is the issue that line 7a (Roth contributions) says $7000? I'm not sure why this entry shows as an error.

    1 reply

    Employee
    February 24, 2025

    2024 TurboTax flags line 6a as having the error when the sum of lines 6a and 7a exceeds $23,000 because this sum is not permitted to exceed $23,000.

     

    The $7,000 on line 7a might have resulted from you mistakenly reporting a $7,000 contribution to a designated Roth account in your self-employed 401(k) instead of you entering a $7,000 Roth IRA contribution under Deductions & Credits (if that's the sort of Roth contribution you made).