My net income as an independent contractor this year is small 5077 and utilizing the calculator on the following website https://obliviousinvestor.com/solo-401k-contribution-calculator which allows you to enter both business net profit and information from W-2 (wages and 401k contributions) it appears I can contribute 1002.00 as an "employer". When I checked the maximize box under 401K or SEp/Koegh it also shows that 1002 in box 5 and 7 of the worksheet and the worksheets only differ in regard to box 21 (when maximize checked under 401k section shows 5009 and when maximized checked under Sep/Keogh box 21 show 1002). So it appears I can contribute 1002 as the "employer" contribution and if I had not already maximized contribution to my employee W-2 401k contribution I could have contributed 5009 as an employee. Now I have confirmed amount I can contribute 1002 as an "employer" I just need to ensure it gets entered into the correct box on the tax forms. Since this is a solo-401K plan do I now uncheck the maximize box in turbotax and manually enter the 1002 as a employer contribution (employer matching profit sharing) contribution under 401k section so that the information gets filled out in the correct boxes?
