Are there any criteria if I can select a box or not on the Keogh/SEP worksheet for "check here to compute the maximum dedcution contribution"?? I contributed $21,000 to my solo 401K in 2023.
By checking this box, it makes a difference of $5,300 in what I owe, in other words, it goes from me owing $2842 to a refund of $2561, by simply checking this box or not ???
Is this an option or is there some criteria of whether I can check this box or not????
I hope this makes sense.
