Thanks again @dmertz! I maxed out the SOLO 401k personal, individual contribution as you advised, yay!
Now TTax says I can add solo 401k employer contributions as well; and you have said
"Your maximum employer contribution is 20% (not 25%) of net earnings. Net earnings are net profit minus the deductible portion of self-employment taxes."
So in my case the business income of $78451 (Schedule 1 line 3 Business income or loss) minus deductible self employment tax (from Schedule 1 line 15?) times 20% for employer contribution.
Then this should be correct?
Whew! You are the greatest, happy tax season to you (grin)!
