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New CB Plan - short year for the new entity


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Hi

I have not had one of these in years and just tried to research. I am not sure if the software is doing proration correctly (may it does - I am not sure)

CB plan and the company (sole-prop), both start 5/1/2024 with 12/31/2024 year end.

Owner is 60 years old.

Has 450k of net c income for 2024 (after 1/2 SE adjustment)

What do you pro-rate?

401a17 limit 345,000*8/12=230,000/12= 19,166.67/month

415(b) limit 275,000*8/12=183,333/12= 15,277.78/month - maximum 2024 accrual is 1/10= 1,527.78 so any cash balance pay credit equivalent cannot exceed this??

What am I missing?

Thanks

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