cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
New Member

I started a pension plan for my llc-where do I claim my cost to set up plan

I set up a pension plan for my LLC

I am a single employee and single owed

I have no other employees

1 Best answer

Accepted Solutions
Highlighted
New Member

I started a pension plan for my llc-where do I claim my cost to set up plan

You can claim the cost to set up your pension plan as an "Other miscellaneous expense" on your schedule C.

In your schedule C:

  1. When you get to the screen that asks "What kind of expenses did you have for <your business>?", choose the drop-down for "Less common expenses" and select "Other miscellaneous expenses"
  2. Click "Continue"
  3. Scroll down to Expenses; find "Other miscellaneous expenses"; click on the blue Start button
  4. Enter a description such as "Pension administration" and enter the expense

View solution in original post

1 Reply
Highlighted
New Member

I started a pension plan for my llc-where do I claim my cost to set up plan

You can claim the cost to set up your pension plan as an "Other miscellaneous expense" on your schedule C.

In your schedule C:

  1. When you get to the screen that asks "What kind of expenses did you have for <your business>?", choose the drop-down for "Less common expenses" and select "Other miscellaneous expenses"
  2. Click "Continue"
  3. Scroll down to Expenses; find "Other miscellaneous expenses"; click on the blue Start button
  4. Enter a description such as "Pension administration" and enter the expense

View solution in original post