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Level 2
posted Mar 20, 2025 1:06:13 PM

Where do I enter my self-employed 401k contribution? Turbotax says under other business situations under income and expenses but I don't see that section.

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1 Replies
Expert Alumni
Mar 21, 2025 3:41:50 PM

If you have no employees, follow the instructions below to enter the total of employer and employee contributions. These steps record the contributions under Business Deductions & Credits and the program transfers the expense to Schedule C Line 19.

 

To enter your self-employed retirement in TurboTax:

  • Open your return and go to Tax Tools in the left column.
  • Choose Tools >> Topic search, then enter self-employed retirement. Click the topic then Go.
    (In TurboTax for Desktop, use the Search box in the upper righthand corner.)
  • Follow the interview to report your total 401K contributions (employer plus employee).

 

If you have employees, the employees' contributions are included in W-2 wages. The employer's contributions are deducted as a business expense under Less Common Expenses / All Other Expenses >> Employee Pension plan / Pension Plan Contributions.

 

See also: How do I enter a solo 401(k) in TurboTax?