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Entering contribution amounts for a solo or individual 401(k) plan in Lacerte
by Intuit• Updated 4 weeks ago
Follow these steps to enter contributions:
- Go to Screen 24, Adjustments to Income.
- Select the section SEP, Simple, Qualified Plans from the left menu panel.
- In the Solo or Individual 401(k) subsection, input the contribution amount in Total SE elected deferrals (except Roth) input field.
- If the 401(k) is a Self Employed 401(k), make the applicable field from below:
- Profit-sharing (25%/1.25)(1=maximum)
- Money purchase (25%/1.25)(1=maximum)
- Self-employed SEP (25%/1.25)(1=maximum)
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