S-Corp : where to report employee solo 401k contributions

[anothertaxuser]

Hi,

I started my S-Corp LLC last year (2024) and contributed towards a solo 401-k. This is captured correctly in W2 and payroll. I am filing my taxes with Turbotax Business. When I try to enter the deductions section, I see 2 sections:

• Salaries and wages paid - Here I entered the wages (box 1) reported in W2, which does not include employee retirement contributions
• Retirement Plan Contributions - Here I entered the total employer retirement contributions (sep-ira + solo 401k) amount.

I see no other sections where I can capture the employee retirement contributions. This makes my balance sheet report incorrect higher income amount even though my actuals are lower. How do I enter this amount correctly for tax filing?

[RobertB4444]

The employee contributions are part of the gross salary that you paid.  When you entered the gross salary that should have taken care of the employee contributions.  If you had entered them additionally on your accounting program before coming to TurboTax then that is what you need to fix.  TurboTax is correctly not giving you a space to enter something that is not a deduction for your business.

@anothertaxuser