Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
paul4168
New Member

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"

View solution in original post

Dynamic AdsDynamic Ads
Privacy Settings
v