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
    • Created with Sketch. In anticipation of the upcoming Exempt Org and Texas Franchise deadlines (5/15), we've compiled a list of the most common questions here.
    Created with Sketch. In anticipation of the upcoming Exempt Org and Texas Franchise deadlines (5/15), we've compiled a list of the most common questions here.
    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: 

    My client has 3 W2, 50 years old 401 & 403 contribution is $39,644 and 457 contribution $21750 is there any penalty

    lovemahal-1
    Level 2
    ‎03-30-2021 06:29 PM
     
    0 Cheers

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

    2 Comments 2
    qbteachmt
    Level 15
    ‎03-30-2021 06:34 PM

    See if this article helps:

    https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-403b-contribution-l...

     

    *******************************
    "Level Up" is a gaming function, not a real life function.
    0 Cheers
    Just-Lisa-Now-
    Level 15
    Level 15
    ‎03-30-2021 06:36 PM

    penalty for contributions? ohhh excess contributions, sorry, I misread


    ♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
    0 Cheers
    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