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Retirement tax questions
This has never changed. The sole proprietor gets the deduction on Schedule 1 line 16 for both the employee elective deferrals and the employer contribution to the sole proprietor's 401(k) account.
See the IRS instructions for Schedule C line 19:
https://www.irs.gov/instructions/i1040sc#en_US_2024_publink24329wd0e1604
March 6, 2025
1:17 PM