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Get your taxes done using TurboTax
Couple things, you said PRETAX entry above. What did you mean by that?
And this is on Schedule C income? Do you have enough Net Profit? If you only have self-employment income you can only contribute up to your net profit reduced by the deduction allowed for one-half of your self-employment taxes. See IRS publication 590 http://www.irs.gov/pub/irs-pdf/p590a.pdf
And 401K might use the same limits as an individual 401K.
March 30, 2021
3:10 PM