Is the W2 from the LLC or from other employer? What kind of LLC do you have? Is it a Single Member LLC? Did you elect it to be a S corp? If it is a SMLLC but not a S-corp then it is a disregarded entity and you file it as self employment on Schedule C in your personal 1040 return. And you do NOT pay yourself or give yourself a W2 and you don't take owner draws or distributions. Your personal income is just the Net Profit on schedule C. In which case you can only contribute up to the Net Profit minus 1/2 the Self Employment tax.
