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LindaTab
Level 1
January 17, 2024
Question

Programming error 2023 Keogh, SEP and Simple Contribution Worksheet

  • January 17, 2024
  • 2 replies
  • 15 views

This worksheet is using the 2022 maximum ($20,500) allowable elective deferral to an individual 401(k) instead of the 2023 maximum of $22,500.  It also appears that the allowable catch-up amount was not increased from $6500 to $7500.

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2 replies

Intuit Community Champion
January 18, 2024

Takes ProSeries a long time to up date. have patience, they'll get it right (I hope) before Feb

Level 15
January 18, 2024

Yep. 

ProSeries doesn't update according to law; they update according to forms, instructions and publications. 

I see that the IRS has not updated Publication 560 yet for 2023, so that may be why ProSeries hasn't gotten around to it yet.