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Does TT have multiple bugs in self-employed solo 401k individual 401k for 2023? Will TT give multiple answers in different screens and also Schedule 1 line 16 is wrong?
IRS Publication 560 Rules are complex as a person can work a W-2 with a 401k and be self employed with a 1099 in same year and want a solo 401k. Plus over age 50 allows $7,500 more as catch-up. Solo 401k also allows 25% of business income in addition added in for the solo 401k.
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March 11, 2024
7:19 AM