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Deductions & credits
Hi Marilyn,
To clarify, I'm self employed with no employees and I set up a solo 401k plan with eligible automatic contribution arrangement. Per section 45T I'm eligible for the $500 credit for 3 years. Section 45T does not include the requirement that there be at least one no-highly compensated employee.
In TT 2025 doesn't seem to be an option to select the auto enrollment per the link to the post from last year:
"Under Wages & Income:
- Scroll down (or Add) to Other Business Situations.
- Choose Business Credits >> Pension plans - Startup Costs, Auto-Enrollment…
- TurboTax will confirm you are eligible for the Auto-Enrollment Credit, subject to limitations."
If I go to to Business Credits this is what I get:
And If I got Profit and Loss, there is no section for Pension Plans.
How do I access the interview section for Form 3800 or Form 8881?
If I go to forms and link my sch C to form 8881 and check Part II auto enrollment it auto-completes line 9 for $500, but then I get the error on form 3800.
Thanks