PatriciaV
Expert Alumni

Self employed

Yes, the Solo 401K entry is available in TurboTax Home & Business under Business >> Less Common Business Situations >> Self-Employment Retirement Plans. 

 

In TurboTax your plan is called an Individual 401(k). 

  1. Click Start/Update, then Yes, twice.
  2. On the page "Individual and Roth 401(k) Plans," enter the contributions you made this year as Elective Deferrals or Catch-up Contributions. 
  3. If you also received Employer match contributions, enter those as well. 
  4. If you want this retirement plan to take precedence over other elective deferrals, check the box for "Maximize Contribution to Individual 401(k)."
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post