Welcome back! Ask questions, get answers, and join our large community of tax professionals.
  • Products
  • Workflow Tools
  • Learn & Support
  • Sign In
  • Products
  • Workflow Tools
  • Contact Us
  • Sign In
  • Learn & Support
    • cancel
    Turn on suggestions
    Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
    Showing results for 
    Search instead for 
    Did you mean: 

    2020 solo 401(K) contribution limits incorrect on Keogh/SEP/Simple Worksheet?

    goose406
    Level 2
    ‎01-18-2021 03:14 PM

    The 2020 maximum 401K (solo) contribution limits are 19,500 plus 6,500 catch-up for those 50 and over.  The 2020 ProSeries Professional 1040 version worksheet is showing limits of 19,000 and 6,000, respectively.  When is this fix anticipated?

    This discussion has been locked. No new contributions can be made. You may start a new discussion here

    1 Comment 1
    Just-Lisa-Now-
    Level 15
    Level 15
    ‎01-18-2021 03:20 PM

    Its been asked about several times now, heres the latest

    https://proconnect.intuit.com/community/proseries-tax-discussions/discussion/deductible-simple-contr...

    Update hopefully by the end of the month.


    ♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
    Intuit Lacerte Tax
    Intuit ProConnect Tax
    Intuit ProSeries Tax
    Additional Accounting Solutions
    Tax Pro Center
    Tax Practice Resources
    Call sales: 844-877-9422
    Sitemap

    ©1997-2024 Intuit, Inc. All rights reserved.

    Intuit, QuickBooks, QB, TurboTax, and Mint are registered trademarks of Intuit, Inc. Terms and conditions, features, support, pricing and service options subject to change without notice.

    By accessing and using this page you agree to the Terms and Conditions.

    About Cookies | Manage Cookies
    Legal Privacy Security