Thank you for your reply. I hope I’m explaining this where I make sense.
Tell me if I’m wrong about this: because he does not get a paycheck, I was under the impression that he could make a contribution before April 15 (for prior year) for employer contribution and January 30 (for prior year) for personal “employee” contribution.
Before this additional check of $10k (which was intended for employee contribution and was wrongly deposited as employer contribution) there was a small prior deposit made as employee contribution and another deposit of 3% of his schedule c income which was applied as employer match. The employee contribution was greater than the employer match so I think that’s all ok? Therefore, I’ve reported that as such on our income taxes. Am I wrong?
The additional $10k was because we decided after doing our taxes that we had the money to make a larger employee contribution. If I had it in by January 30, would that have been acceptable to do?
