dmertz
Level 15

Retirement tax questions

"So are we saying the the "employee" deduction should be on Schedule 1, Part II, Line 16 and the "employer" portion should be on line 19, of Schedule C Profit and Loss From Business."

 

No.  The deduction for both employee and employer contributions ends up combined on Schedule 1 line 16.  The business-expense deduction for retirement contributions that goes on Schedule C is for employer contributions made to the accounts of non-owner employees (which you don't have because you are not permitted to have a solo 401(k) when you have eligible employees).