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Can I use all of my gross income from uber and lyft for an individual 401k contribution?

 
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1 Reply
dmertz
Level 15

Can I use all of my gross income from uber and lyft for an individual 401k contribution?

No.

 

Net profit will be calculated on Schedule C.  From that must be subtracted the deductible portion of self-employment taxes and then your maximum individual 401(k) contribution will be determined from that by clicking the Maximize button on TurboTax's page for an individual 401(k) contribution.

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