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Business & farm
@bhawth22 wrote:
...I'll still complete my taxes the same, filling out the sch E? But when contributing to the 401k through the parent company, how does the income flow through that entity?
Unless I am missing something (and that is a distinct possibility), I do not believe income from passive activities, such as most rental income, qualifies to sponsor some sort of solo 401(k) (or other retirement) plan.
You need to have earned income (e.g., income from self-employment or as an employee) for that purpose.
‎January 18, 2020
11:25 AM
1,663 Views