Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
Your taxes, your way. Get expert help or do it yourself. >> Get started
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 
paul4168
Level 2

Solo401K. Is the employee deferral and the catch-up additive. do I enter $25000 for elective employee deferral or do I enter 19000? Software question not tax law

 
1 Best answer

Accepted Solutions
MarilynG1
Employee Tax Expert

Solo401K. Is the employee deferral and the catch-up additive. do I enter $25000 for elective employee deferral or do I enter 19000? Software question not tax law

Enter Elective Deferrals as $19,000 and Catch-Up Contributions of $6,000 separately.

 

Type 'Solo 401K' in the Search area, then click on 'Jump to solo 401k'.

 

Continue to screen for Individual and Roth 401(k) plans (screenshot).

 

 

 

 

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

View solution in original post

1 Reply
MarilynG1
Employee Tax Expert

Solo401K. Is the employee deferral and the catch-up additive. do I enter $25000 for elective employee deferral or do I enter 19000? Software question not tax law

Enter Elective Deferrals as $19,000 and Catch-Up Contributions of $6,000 separately.

 

Type 'Solo 401K' in the Search area, then click on 'Jump to solo 401k'.

 

Continue to screen for Individual and Roth 401(k) plans (screenshot).

 

 

 

 

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

About Community

Learn about taxes, budgeting, saving, borrowing, reducing debt, investing, and planning for retirement.

3.49m
Members

2.62m
Discussions

Manage cookies
v