If you are also an employee of the S Corp, the contributions to the 401(k) can only be made from your wages, not your distributions. Distributions are not considered earned income for purposes of 401(k) contributions.
If you made made contributions to a 401(k) plan from your salary, your contributions should show up as a box 12 amount with a code of D, and your box 1 should be "net" of these "elective deferrals". If your W-2 is not correct, you should arrange for a corrected W-2.
If you’ve made contributions to a 401(k) plan based on a shareholder’s S corporation’s distributions, click here to find out how you can correct this mistake.
See the IRS website at this link for more information on retirement plan contributions for an S Corp.
The IRS website at this link discusses how to report medical insurance premiums paid for a "more tha....
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
