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co75_2
co75_2
Level 5
January 11, 2021
Question

2020 SIMPLE IRA Contribution limit problem

  • January 11, 2021
  • 8 replies
  • 38 views

ProSeries Pro has error in SIMPLE IRA contribution limit. Instead of using $16500 ($13000+$3500 catchup) for 2020 it is using $16000

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    8 replies

    Just-Lisa-Now-
    Just-Lisa-Now-Intuit Community Champion
    Intuit Community Champion
    January 11, 2021
    @co75_2 wrote:

    ProSeries Pro has error in SIMPLE IRA contribution limit. Instead of using $16500 ($13000+$3500 catchup) for 2020 it is using $16000

     

    Its  actually 13500 + 3000 catch-up for 2020 (not 13000 + 3500) . 

    But youre saying the total isnt computing correctly?   Yes, I see it, it carried the 16500 down the page to the bottom, then limits it to 16000.

    @IntuitAustin  whos managing  the bug list?

    ♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
      co75_2
      co75_2Author
      Level 5
      January 11, 2021

      Correct:

      SIMPLE IRA WORKSHEET

      Part V, line 1 and 2shows $16,000 not $16500. Then the $16000 feeds Schedule 1, Part !!, line 15 with $16,000

       

      co

       

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