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Retirement Plan Contributions on 1120-S: Voluntary After Tax

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:

  • Roth 401(k)
  • Voluntary after-tax 401(k) contribution (which was later converted in an in-plan conversion, but that's on the personal return)

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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1 Best answer

Accepted Solutions
AliciaP1
Expert Alumni

Retirement Plan Contributions on 1120-S: Voluntary After Tax

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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1 Reply
AliciaP1
Expert Alumni

Retirement Plan Contributions on 1120-S: Voluntary After Tax

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.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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