TP made a 61,000 contribution to a profit-sharing plan retirement plan, along with a catch-up contribution. If I enter 67,500 the software defaults to 61,000 on Sch 1. Where do I enter the 6500 catch-up contribution?
Assuming this is a 401(k) or other plan allowing employee deferrals, not a SEP or other all-employer plan, your input should look similar to this:
Note the "NOTE Enter employer contributions (if any) above" in the 401(k) input section, which cues you to enter the employer portion at the top and the employee deferral on the elective deferral portion.
Schedule 1 worksheet will look like this:
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