**HAPPY NEW YEAR**
I'm a self employed with an LLC... and a Fidelity Keogh 401K Plan.
In going to the above Worksheet and I want to use the max deductible contribution checkbox, NOT clear which PLAN I should enter my data...?
Is it the SEP plan line 4d or the Individual 401k Line 6f
or another Plan on the worksheet...?
Again, I'm a self employed with LC and no employees and a Fidelity Keogh 401 Plan
//thanks in advance\\
Thanks in advance
Fidelity used to use the title of Self-Employed Keogh on their web-based portfolio summary for both Keogh plans and Individual 401(k) plans, but at some point they updated their system to correctly identify individual 401(k) plans as Self-Employed 401(k) plans. Look at your actual account statement to see how the account is titled.
To calculate the maximum permissible combined employee elective deferral and employer contribution, mark the Maximize box for an Individual 401(k). Do not enter it as a Keogh plan contribution.
If you have a " Fidelity Keogh 401 Plan " then you have a Keogh although I believe you are mistaken ... talk to Fidelity to be better educated.
Fidelity used to use the title of Self-Employed Keogh on their web-based portfolio summary for both Keogh plans and Individual 401(k) plans, but at some point they updated their system to correctly identify individual 401(k) plans as Self-Employed 401(k) plans. Look at your actual account statement to see how the account is titled.
To calculate the maximum permissible combined employee elective deferral and employer contribution, mark the Maximize box for an Individual 401(k). Do not enter it as a Keogh plan contribution.