Regular and Roth Individual 401K contribution amounts

[Delal]

TT tells me that I can defer a maximum of $30,240 to my individual 401k account.
I now understand that this is only my elective deferral (max. amount of $23K + $7,240 of catch-up contribution since I'm over 50). Is this right?
(If so, it might be helpful to specify it in TT; I previously wrongly assumed that this was my total contribution (elective+employer contribution.)
I want to make an elective contribution of $5150 to my regular ind. 401K and I want to maximize my contribution to my indiv. Roth IRA.

TT does not seem to check for excessive ind. 401k contributions so I'd like to double check that the following numbers are correct (based on a net profit of $40330, a SE Tax of 5698 and the fact I'm over 50):

Regular 401K :  Elective Deferral of $5150

Roth 401K : Elective Deferral of $17850  (=$23K minus $5150) and Catch-up contribution of $7240

Or, alternatively, I could keep the same numbers for the Roth 401k and add an employer matching contribution of up to $7240 to my regular 401k.

In theory, I could instead add this employer contribution of $7240 to my Roth 401K (it is now allowed at my account at Schwab) but how would I report it in TT (there is no "employer matching" option under Roth IRA) and does it involve some sort of "rollover"  of the contribution as I have read online? Thanks in advance

[dmertz]

"TT tells me that I can defer a maximum of $30,240 to my individual 401k account."

$30,240 is the maximum employee elective deferral after making the maximum $7,241 employer contribution, a total of $37,481.

If you contribute all $37,481 as traditional elective deferral and employer contributions to your individual 401(k), that leaves nothing from which to make a contribution to a Roth IRA.  However, only the deductible amount of your self-employed retirement contributions reduce the amount of compensation available to support a Roth IRA contribution, so if you make at least $8,000 of your individual 401(k) contributions to the designated Roth account in the 401(k), that will leave enough to support the maximum $8,000 Roth IRA contribution.  Your maximum Roth IRA contribution could be limited by your modified AGI based on you filing status.  Probably easier to make the contribution to the designated Roth account in the 401(k) as an employee contribution (correspondingly reducing the amount of your traditional employee elective deferral) rather than making it as a Roth employer contribution.  Just enter $8,000 as a Roth employee contribution and mark the Maximize box for an individual 401(k).

[Delal]

Thanks, but my question was about splitting my contributions between my solo regular 401K and my solo ROTH 401K.  (In other words, I have a solo 401k account that has a regular tax-deferred part, and a Roth 401K part).

Based on a net profit of $40330, a SE Tax of 5698 and the fact I'm over 50 (and have no other earned revenue) could I make the following contributions ?

Regular 401K :  Elective Deferral of $5150

ROTH 401K : Elective Deferral of $17850  (=$23K minus $5150) and Catch-up contribution of $7240 - this would be a total of $25,090 to my solo ROTH 401K

Thanks

[dmertz · Accepted solution]

You can split the $30,240 between traditional employee elective deferrals and employee Roth contributions (technically not a deferral of taxable income despite colloquially being called Roth elective deferrals as is done in TurboTax) any way you want.  If you make at least $8,000 of these to the Roth account, you'll have at least $8,000 of compensation available to support a Roth IRA contribution.  So yes, you can make the split that you propose.