Where does a Solo 401k employer contribution of 25% of net income get recorded in TurboTax and does it reduce the taxable income?

Elective deferrals have been maxed out. This is the employer contribution of 25% of net income.

posted

Yes, your contribution to your solo 401(k) will reduce your taxable income.

Please follow the instructions in this TurboTax Help article to enter your Self-employed solo 401(k) contribution.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Unlock tailored help options in your account.