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Retirement tax questions
My husband is a partner in a firm, and receives a k-1, not a w-2. He has a 401k Roth. He contributed to it through the year, and received profit sharing. I want to confirm what amount gets reported on Line 15 of Sch I on the 1040 as an adjustment to income. I'm assuming it's only the Employer portion/profit sharing contribution, as that contribution is not eligible to go into a Roth? Is this true?
May 6, 2021
1:08 PM