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Level 2
February 4, 2021
Question

Roth solo 401k

  • February 4, 2021
  • 7 replies
  • 18 views

solo Roth contribution entered Part 1 on line 7a and 7c - 19,500 and 6,500

Part III line 9 and line 17 indicates max contribution for each is 19,500 and 6,500

line 20 is calculated to be 25,000 (not 26,000)

Instructions for line 9 and 17 indicate max contribution is 19,500 and 6,000 (not 6,500)

Why discrepancy on worksheet and instructions?

The max contribution is 26,000 if over 50 - yes?

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7 replies

qbteachmt
Level 15
February 4, 2021

Part 1 or III, line 7a or 9 or 17 or 20 of Which form, worksheet or return? Where are you working? Solo Roth for Sched C person?

More details should would help give some perspective. Thanks.

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friedsAuthor
Level 2
February 4, 2021

Sorry

Schedule C. Keogh/SEP  worksheet

Part 1

Entered line 7a 19,500 7c 6,500 = 26K line 7d

Part III

line 20 shows allowable elective deferral = 25K. Why not 26K?

Plus instruction discrepancy as previously stated. 

 

 

qbteachmt
Level 15
February 4, 2021