Retirement Plan Contributions on 1120-S: Voluntary After Tax

Upwind — Sun, 13 Feb 2022 00:55:01 GMT

I'm using TurboTax Business, and it's asking about Retirement Plan Contributions (in the Deductions section).

I'm self employed, with a 1-person S-Corp. How/when/where would I enter the following types of contributions please:

Roth 401(k)
Voluntary after-tax 401(k) contribution (which was later converted in an in-plan conversion, but that's on the personal return)

I assume I don't enter this in deductions, because those are all salary deferral contributions as an individual—not the business—is that correct?

Note that I already contributed during calendar year 2021.

Note that I already completed the W2 and entered the information there. But I'm wondering if this needs to be on any federal returns like 1120-S please.

Thank you!

Re: Retirement Plan Contributions on 1120-S: Voluntary After Tax

AliciaP1 — Mon, 14 Feb 2022 02:33:26 GMT

Yes, you do not need to enter anything for your S-Corp because you are not reporting any company match transactions paid by the company.

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Retirement Plan Contributions on 1120-S: Voluntary After Tax

Re: Retirement Plan Contributions on 1120-S: Voluntary After Tax