I am single member S corp.
On W2 I have taken 70k as gross wage.
Out of this
22500 for solo 401k employee deferal shown on 12a D
7500 HSA from S corp shown as 12b W
2500 heath premium shown as 12c DD
So box 1 wage is 37500.
So does TurboTax will calculate how much employer Solo 401k contribution should be?
Is it 25% of 70k
Or
60k
Or
37500
