@dmertz thank you very much for this information. It sounds like if the single member LLC which is treated as disregarded entity with passthrough taxation shows a loss, I cannot contribute to my Solo Roth 401(k) account. Thus, we might elect to not take some business deductions in order to show a NET profit on the tax return, thus enabling me to contribute to the Solo 401(k). Based on what you've told me and what I've researched, if the LLC shows a $20,000 NET profit for the 2023 tax year, I should be able to contribute $20,000 to my Solo Roth 401(k) account.
