Carry over of K1 Keogh Contribution to Personal Tax forms?

[SkyFlyer48]

I have a CA S-Corp and made a 20K contribution to my Schwab Keogh  retirement account in 2016. The only box filled in with a dollar value on my K1 is Box #1 showing a loss. Should I be reporting my 20K contribution on my personal tax forms, or is it already factored in on my S-Corp/K1 return?

[dmertz · Accepted solution]

No, you do not report the Keogh contribution on your personal tax return.  The S corporation gets the deduction on the S corporation's tax return.

You are an employee of the S corporation, not self-employed (except for the purpose of a self-employed health insurance deduction).