secure act 2.0 new Roth Employer (non-elective) contributions

Forum|Forum|3 years ago
May 18, 2023
2 replies
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The secure act 2.0 allows employer contributions to a Roth solo 401K...however I cannot find anyway to enter such contributions in turbo tax home/business...I am trying to work with the worksheet form that calculates max contributions, etc. pls advise, thx

TurboTax Home & Biz Windows

NCperson

Level 15

I suspect you can't do that in TT because it is a law provision that is not effective until 2023.

dmertz

Level 15

The employer contribution to the designated Roth account is not deductible, so it would not go anywhere on your tax return. The only issue is determining the permissible employer Roth contribution, which you could do in TurboTax by initially indicating it to be a traditional 401(k) employer contribution to determine the permissible amount, then removing the employer contribution from TurboTax.