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Confused on how to enter my self-employed solo/individual roth 401(k) contributions in Business Income and Expenses
I opened a Solo (individual) Roth 401(k) in 2020 and made contributions.
In TTD Home and Biz>Business>Business Income and Expenses>Individual and Roth 401(k) Plans.
There are options to enter contributions as either Individual 401(k) (top choice on the screen) and Roth 401(k) (bottom choice on the screen). I made Elective Deferrals as an employee.
This is probably very simple, but I'm confused if I'm supposed to enter under Individual 401(k) or Roth 401(k). When I look at my plan documents (Vanguard) it shows 'Individual Roth 401(k)' so that seems to me I should enter my contributions in the top choice.
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‎June 6, 2021
5:05 PM