Yes, you are correct.
The solo 401(k) and a Roth IRA are two separate instruments and in your case you can contribute to both.
Yes, the Solo 401(k) is limited to your Self-Employment income.
Yes, the requirement for a Roth IRA contribution is that you have compensation for that year.
Although you are contributing the Self-Employment income to a Solo 401(k), that does not make the compensation ineligible for making the Roth IRA contribution.
You may do both within each of their individual limits. The limits are not combined.
[Edited 2/17/22 I 12:25pm PST]
https://ttlc.intuit.com/community/self-employed/help/how-do-i-enter-a-solo-401-k-in-turbotax/00/2483...
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
