How do I categorize 401k deductions on my business tax return?

john53 · ‎June 7, 2019

How do I categorized employee paid 401k deductions in Turbotax Business? Do I put them under "Salaries and wages paid, or under "Retirement plan contributions"?

I asked this same question earlier, and my question got deleted.

PatriciaV · ‎June 7, 2019

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AmandaR1 · ‎June 7, 2019

They are not salaries and wages because the contributions are before tax. They are 'Retirement plan contributions, fringe benefits' and if you search that phrase in the top right corner, while you are in the software, you'll be taken directly to the section.

Be sure to enter contributions based on employees, employee owners or owners. Contributions for workers who are only employees (not owners) are deducted on the business return under employee benefit programs.

How do I categorize 401k deductions on my business tax return?

Retirement tax questions

Retirement tax questions