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self employed Individual 401K Roth Contributions
I'm self employed, over 65, and want to contribute to my ROTH 401K. Let's assume I made 200K net. TurboTax will only allow me to contribute $23K as an elective deferral and $7,500 as a Catch up. There is no place to enter the employer contribution for a ROTH 401K (since I'm solo, I'm the employee and employer). That's a significant error since I'm allowed to contribute up to $76,500 in 2024 to a ROTH 401K. How do I enter the additional employer contribution of $46,000?
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March 18, 2025
9:04 AM