720418
You'll need to sign in or create an account to connect with an expert.
Please follow these instructions:
I've attached screen shots below of each screen you should see throughout the process.
Hello;
I see a posts that is commonly referred and answers it in a way that seems to me meant for a different product. I have a S-Corp and am the sole employee of my corp. I use Turbo Tax Business 2019 for reporting my taxes. I see a place to indicate the Retirement contributions made. My question is, where do i indicate the amount of profit-sharing contributions. How do i indicate the qualified and non-qualified contributions i made for myself during the year in Turbotax Business 2019.
You enter your qualified contributions for profit sharing plans under the deductions- Retirement plan contributions. Non qualified contributions are not deductible on the 1120S. You also need to annually file a Form 5500, which TurboTax Business does not support.
@andeepbidare
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
Naren_Realtor
New Member
gagan1208
Level 1
in [Event] Ask the Experts: Tax Law Changes - One Big Beautiful Bill
tbduvall
Level 4
Lukas1994
Level 2
jerichok2001
New Member