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Get your taxes done using TurboTax
The profit-sharing contribution only shows up under the individual 401K section, not the Roth 401K section. I entered my employee contributions as though they were i401K contributions (deductible) and asked TT to maximize my contribution. TT calculated my allowed employer profit sharing contribution, then I moved my own Roth contributions to the Roth 401K section. Do I simply keep the profit-sharing contributions as non-Roth, then pay taxes on it through a conversion process? Any guidance on how to report this to myself? I haven't issued myself a W-2. Do I do that, or issue a 1099-R?
Thanks for the help!
March 23, 2025
5:44 PM