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    Where to enter a solo 401-K Contribution

    meidt193
    Level 3

    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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    Accountant-Man
    Level 13

    Same place you enter a SEP IRA and other retirement plans. Adjustment to Gross income.

    ** I'm still a champion... of the world! Even without The Lounge.

    View solution in original post

    5 Comments 5
    abctax55
    Level 15

    When was the solo 401k set up?

    Is it regular or Roth?

    HumanKind... Be Both
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    meidt193
    Level 3

    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.

     

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    Accountant-Man
    Level 13

    Same place you enter a SEP IRA and other retirement plans. Adjustment to Gross income.

    ** I'm still a champion... of the world! Even without The Lounge.
    abctax55
    Level 15

    X

    HumanKind... Be Both
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    meidt193
    Level 3

    Thank you so much!!! I put it there and then thought it was wrong!  You are definitely a champ!! 

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