I am confused. Another person post a similar question and recieved this response:
"Assuming that these contributions are to the partnership's retirement plan and that is a type of plan such as a 401(k) that accepts elective deferrals, the code R entries in box 13 of the past year's Schedule's K-1 were done correctly and this year's was not. The code R entry in box 13 should be the total of both employer and employee contributions to the partnership's retirement plan."
In another post fron same person:
"For these to appear on line 28 of Form 1040, your Schedule K-1 must show with code R in box 13 the total amount of contributions made through the partnership and with code A in box 14 your Net Earnings (Loss) From Self-Employment. In the follow-up to entering the box 13 code R amount, enter in the Payments to 401K (non-Roth plan) box the portion at was elective deferral and in the Employer Matching Contribution to 401K box the portion that was the profit-sharing contribution."
To clarify, in may case:
My wife and I have a partnership LLC with no employees. This is our only earned income. We have a Individual (solo) 401K with Vanguard. Based on the calculation from PUB 560, chapter 5 (Table and Worksheets for the Self-Employed), we can have a employer contribution (profit sharing of 9288). In addition we want to make an employee contribution of 25,000 (19000 plus 6000 catch up).
You answer seem to indicate box 13 should be 9288. Correct?
