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
Shouldn't need to do anything else. Are you asking because you are getting an error ?
Thanks, no error I have.
A form or worksheet?
A 401(k) is nothing like the other 3 (KEOGH, SEP IRA or SIMPLE IRA).
@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.
Roth 401(k) does not provide an adjustment to Income.
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.
I would confirm where that landed on the actual tax form(s).
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