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Get your taxes done using TurboTax
You do not need to consider the contribution from your S-Corp to a 401(k) plan as a deferral from your compensation.
For one participant 401k plans the company can contribute up to 25% of your compensation to the plan with a limit of $56,000 for 2019. The contribution is called a nonelective contribution.
More information about One Participant 401k Plans
You do not need to report the contribution on your W-2 in Box 14. Box 14 on the W-2 is for informational purposes.
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‎January 22, 2020
1:53 PM