topic I opened a solo401k, does TurboTax provide the forms for a tax credit? in Get your taxes done using TurboTax

I opened a solo401k, does TurboTax provide the forms for a tax credit?

karen-househelp- — Wed, 11 Feb 2026 10:49:20 GMT

Re: I opened a solo401k, does TurboTax provide the forms for a tax credit?

Anonymous_ — Sat, 21 Dec 2024 17:14:36 GMT

Re: I opened a solo401k, does TurboTax provide the forms for a tax credit?

VolvoGirl — Wed, 09 Oct 2024 02:53:22 GMT

Did you find where to enter the solo 401K ? Where to enter Self Employed solo 401K plans

https://ttlc.intuit.com/questions/1901283-where-do-i-enter-my-401-k-or-thrift-savings-plan-tsp-contribution

You can contribute to a 401K up to the amount of your Net Profit reduced by 1/2 of the SE tax OR to the max contribution allowed for a 401k whichever is Less.

You might qualify for the Savers Credit

https://turbotax.intuit.com/tax-tips/tax-deductions-and-credits/what-is-the-savers-credit/L3LyopRkK

I don’t know where it is. It might be under

Federal Taxes Tab

Deductions & Credits

-Scroll down to:

--Other deductions & Credits

Re: I opened a solo401k, does TurboTax provide the forms for a tax credit?

dmertz — Wed, 09 Oct 2024 03:15:07 GMT

To qualify for the credit for pension (401(k)) startup costs, the company has must have at least one employee who is not a >5% owner. Since a solo 401(k) likely implies that there are no such employees, it seems likely that this credit would not be permitted. For a sole proprietorship, you can enter the pension startup cost into TurboTax as a business expense, answer TurboTax's related questions, complete the corresponding section under Business Deductions and Credits and, if you qualify, TurboTax will prepare Form 8881.