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n-mo
New Member

For 2020, TurboTax premier is not deducting my self-employed individual 401(k) contributions as it did in 2019. It says I'm no longer eligible but not why. Any ideas?

My financial situation is similar to last year. I have W-2 wages from a full-time job and some investment income.
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1 Reply
AnnetteB6
Expert Alumni

For 2020, TurboTax premier is not deducting my self-employed individual 401(k) contributions as it did in 2019. It says I'm no longer eligible but not why. Any ideas?

Without net earnings from self-employment, you cannot contribute to a self-employed individual 401(k).  If you do not have self-employment income included on your return, that would make you ineligible to make a contribution.  

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