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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProConnect Hot Topics.
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Where to enter Solo 401k Contribution
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skyworks
Level 5
02-23-2023
10:44 PM
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Hi,
A client earned $250k as self-employed income exp on Sch C.
He contributed $19000 as solo 401k employee deferral (he is under 50 years old).
In addition, he is planning contribute about $25k as profit sharing.
I entered $25k profit sharing on Sch C under pension/profit sharing.
Where to enter the Solo 401k deferral of $19k?
I entered in Solo 401k under adjustments to income, but it did not flow to Sch 1 line 16.
Anyone can help?
Thanks!
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George4Tacks
Level 15
02-24-2023
10:26 AM
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