My client has her own business and decided for 2019 to contribute $10,000 to a solo 401-K.
Where is this entered? I have searched high and low and cannot find anywhere to put it in. Her Husband contributes to 403B through his employer.
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Same place you enter a SEP IRA and other retirement plans. Adjustment to Gross income.
When was the solo 401k set up?
Is it regular or Roth?
It was set up in October of 2019 and it is a traditional.
She set it up as a business retirement for herself. She has no employees and has less than 250K , so I do not believe she needs to do a 5500-EZ.
Same place you enter a SEP IRA and other retirement plans. Adjustment to Gross income.
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Thank you so much!!! I put it there and then thought it was wrong! You are definitely a champ!!
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