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I am a partner in a firm and receive a K-1 and not a W-2. I have both 401-K (pre-tax deferral contributions) and 401-K profit sharing contribution. Where do I enter these
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I am a partner in a firm and receive a K-1 and not a W-2. I have both 401-K (pre-tax deferral contributions) and 401-K profit sharing contribution. Where do I enter these
For these to appear on line 28 of Form 1040, your Schedule K-1 must show with code R in box 13 the total amount of contributions made through the partnership and with code A in box 14 your Net Earnings (Loss) From Self-Employment. In the follow-up to entering the box 13 code R amount, enter in the Payments to 401K (non-Roth plan) box the portion at was elective deferral and in the Employer Matching Contribution to 401K box the portion that was the profit-sharing contribution.
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I am a partner in a firm and receive a K-1 and not a W-2. I have both 401-K (pre-tax deferral contributions) and 401-K profit sharing contribution. Where do I enter these
For these to appear on line 28 of Form 1040, your Schedule K-1 must show with code R in box 13 the total amount of contributions made through the partnership and with code A in box 14 your Net Earnings (Loss) From Self-Employment. In the follow-up to entering the box 13 code R amount, enter in the Payments to 401K (non-Roth plan) box the portion at was elective deferral and in the Employer Matching Contribution to 401K box the portion that was the profit-sharing contribution.
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I am a partner in a firm and receive a K-1 and not a W-2. I have both 401-K (pre-tax deferral contributions) and 401-K profit sharing contribution. Where do I enter these
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I am a partner in a firm and receive a K-1 and not a W-2. I have both 401-K (pre-tax deferral contributions) and 401-K profit sharing contribution. Where do I enter these
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I am a partner in a firm and receive a K-1 and not a W-2. I have both 401-K (pre-tax deferral contributions) and 401-K profit sharing contribution. Where do I enter these
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I am a partner in a firm and receive a K-1 and not a W-2. I have both 401-K (pre-tax deferral contributions) and 401-K profit sharing contribution. Where do I enter these
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