I work for a company. My company does not have a 401k.
I am also a self-employed sole proprietor (LLC)
I made $15,000 this year from my self-employment.
I contributed $15,000 to my individual 401K
I got Turbotax Self-employed 2016
I went to Business > Less Common Business Situations > Self-employed Retirement
I clicked on the button "Maximize Contribution to Individual 401(k)"
But adding i401k contributions did not lower my taxes at all.
Can anyone explain why this is happening?
