dmertz
Level 15

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