sjrcpa
Level 15
08-17-2020
04:17 PM
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Client gets one $19,000 deferral.
Pension contribution for partnership income is computed at partnership level - must be a partnership plan. Does the K-1 have a pension contribution on it?
Client can make a pension contribution for the Sch C business. It would be about $3,300.
$37K is too much unless you have an amount from the K-1.
The more I know the more I don’t know.