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January 7, 2020
Question

How can I reduce my 401(K) catch up contribution from 2019?

  • January 7, 2020
  • 1 reply
  • 1 view
No text available

1 reply

Moderator
January 7, 2020

I can help you reduce your 401(K) catch up contribution, @oahernandez.

 

You have the option to edit the amount set in your 401(K) contribution in QuickBooks. We can simply follow the steps below:

 

  1. Go to Workers tab, then select Employees.
  2. Click the employee's name.
  3. Select the pencil icon in the Pay section. Scroll down on the deductions section, then select +Add deductions.
  4. Click Retirement Plans under Deduction/Contribution type and select 401(K) Catch-up under the Type drop-down.
  5. Enter the name of the provider. And "edit" the amounts per pay period.
  6. Select Done.

 

If you want to set-up, assign, and remove the retirement plan deductions and contributions in QBO, you can check this article: Retirement plans available in QBO.

 

You can always tag me in the comment section if you have further questions about deductions in QuickBooks. I'll always have your back.