GLReneau
Level 3
09-25-2024
03:52 PM
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My client has two Schedule C businesses. One of the businesses was quite profitable last year, the other barely. He is setting up a Solo 401(k) in the name of the profitable business and that business can, by the numbers, make the maximum retirement contribution including catchup. However, the Diagnostics indicates the program is including net income from both businesses for purposes of calculating the retirement contribution. How do I instruct the program to only take into account the net income from the one business (i.e., don't combine the two businesses) for purposes of the retirement contribution?