Entering contribution amounts for a solo or individual 401(k) plan in Lacerte

Follow these steps to enter contributions:

1. Go to Screen 24, Adjustments to Income.
2. Select the section SEP, Simple, Qualified Plans from the left menu panel.
3. In the Solo or Individual 401(k) subsection, input the contribution amount in Total SE elected deferrals (except Roth) input field.
4. 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)