I'm using TurboTax Business, and it's asking about Retirement Plan Contributions (in the Deductions section).
I'm self employed, with a 1-person S-Corp. How/when/where would I enter the following types of contributions please:
I assume I don't enter this in deductions, because those are all salary deferral contributions as an individual—not the business—is that correct?
Note that I already contributed during calendar year 2021.
Note that I already completed the W2 and entered the information there. But I'm wondering if this needs to be on any federal returns like 1120-S please.
Thank you!
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Yes, you do not need to enter anything for your S-Corp because you are not reporting any company match transactions paid by the company.
Yes, you do not need to enter anything for your S-Corp because you are not reporting any company match transactions paid by the company.
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