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small business pension startup costs
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Crandall58
Level 1
a month ago
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Tax Year 2024, new small pension start-up costs $2500, 4 employees x250 and auto enroll $500 linked to Schedule C. - Received $1000 qualified startup cost as well as the $500 credit with Form 8881 There was a carry forward of $1500 to 2025. This is now a general business credit which I understand.
Tax Year 2025, there are no new startup costs in 2025, however, the credit states from Secure 2.0 that you can claim the credit for each of the first three years of the plan. If no new startup costs, how do I get the Proseries to give the credit for the 3 employees now @ $250 each plus auto enroll of $500. Not quite sure how to handle. On Form 8821 states startup costs incurred during the tax year. NOt sure
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