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Can solo 401k be purchased using 1099 income from rental property
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Can solo 401k be purchased using 1099 income from rental property
No ... income reported on a Sch E is not eligible.
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Can solo 401k be purchased using 1099 income from rental property
No ... income reported on a Sch E is not eligible.
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Can solo 401k be purchased using 1099 income from rental property
Rental income (which is passive income) is reported on SCH E. Only earned income can be used to figure retirement contributions. Therefore rental income can not be included in that.