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THE COURTSY OF A REPLY WOULD BE APPRECIATED.
CLIENT WHO IS SELF-EMLOYED CONTRIBUTED IN INDIVIUAL ROTH 401(K) FOR $12000 AND ENTERED ON line 7a on KEHOG, SEP AND SIMPLE CONTRIBUTION.
I WOULD LIKE TO KNOW DO I NEED TO DO ANYTHING ELSE?
THANKS
Best Answer Click here
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Shouldn't need to do anything else. Are you asking because you are getting an error ?
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Thanks, no error I have.
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A form or worksheet?
A 401(k) is nothing like the other 3 (KEOGH, SEP IRA or SIMPLE IRA).
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@qbteachmt ProSeries worksheet for reporting 401k contribution is on the worksheet titled Keogh, SEP and Simple Must be there wasn't enough room to include 401k.
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Roth 401(k) does not provide an adjustment to Income.
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Hmmmm.... I didn't see that the OP asked if it adjusted income. Thought s/he just needed verification that reporting on the K/S/S Worksheet was all that was needed to be done.
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I would confirm where that landed on the actual tax form(s).
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