solo Roth contribution entered Part 1 on line 7a and 7c - 19,500 and 6,500
Part III line 9 and line 17 indicates max contribution for each is 19,500 and 6,500
line 20 is calculated to be 25,000 (not 26,000)
Instructions for line 9 and 17 indicate max contribution is 19,500 and 6,000 (not 6,500)
Why discrepancy on worksheet and instructions?
The max contribution is 26,000 if over 50 - yes?
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Part 1 or III, line 7a or 9 or 17 or 20 of Which form, worksheet or return? Where are you working? Solo Roth for Sched C person?
More details should would help give some perspective. Thanks.
Sorry
Schedule C. Keogh/SEP worksheet
Part 1
Entered line 7a 19,500 7c 6,500 = 26K line 7d
Part III
line 20 shows allowable elective deferral = 25K. Why not 26K?
Plus instruction discrepancy as previously stated.
You might find this helpful:
As reference, here is the listing by year:
contributions limited to $19,500 in 2021 and in 2020 and $19,000 in 2019 (plus an additional $6,500 in 2021 and in 2020 and $6,000 in 2019 for employees age 50 or over).
Let's try for @SDJayhawk
For a scheduled updated release date.
???
I know the limits for 2020 - $26K
Why is the program showing it as $25K?
OK - that answers it.
Thanks for reporting the issue. Verified that the development team is aware and the fix will be released in the near future.
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