nmms
Level 5

If I want ProConnect Tax to calculate the maximum Solo 401(k) employer and employee contributions for a sole proprietor, do I enter 1 in the Profit-sharing (25%/1.25) (1=maximum) field and 1 in the Total SE elective deferrals (except Roth) (1=maximum) field as shown below?

Can you explain when to use the Profit-sharing (25%/1.25) (1=maximum) field versus the Self-employed SEP (25%/1.25) (1=maximum) field? 

Screenshot 2025-05-11 solo 401k input b.jpg

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