topic How can I reflect contributions to an individual 401(k) (also known as a solo 401(k)) for S-Corp in TurboTax? It works for Self employed income only in Retirement tax questions

How can I reflect contributions to an individual 401(k) (also known as a solo 401(k)) for S-Corp in TurboTax? It works for Self employed income only

dmitriy-pertsev — Tue, 03 Feb 2026 10:22:56 GMT

Re: How can I reflect contributions to an individual 401(k) (also known as a solo 401(k)) for S-C...

MinhT1 — Mon, 17 Feb 2025 16:11:56 GMT

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

Re: How can I reflect contributions to an individual 401(k) (also known as a solo 401(k)) for S-C...

dmitriy-pertsev — Mon, 17 Feb 2025 22:12:52 GMT

Hello!
thank you for advise!

should I use Adjusting Self-Employment Income?

Re: How can I reflect contributions to an individual 401(k) (also known as a solo 401(k)) for S-Corp in TurboTax? It works for Self employed income only

dmertz — Mon, 17 Feb 2025 22:56:30 GMT

The deposits into the 401(k) must be made by the S corp and reported on the S corp's tax return. The S corp takes the deduction. The S corp will report in box 12 of your W-2 with code D for traditional elective deferrals or code AA for designated Roth contributions. When preparing your tax return, you will enter the W-2 and enter amounts in box 12 of the W-2 into box 12 of TurboTax's W-2 form, nowhere else in TurboTax.

The link provided by MinhT1 only applies to individuals who are self employed and you are not self-employed (except for the purpose of a self-employed health insurance deduction). You are an employee of the S corp.

Re: How can I reflect contributions to an individual 401(k) (also known as a solo 401(k)) for S-Corp in TurboTax? It works for Self employed income only

dmitriy-pertsev — Mon, 17 Feb 2025 23:17:10 GMT

S-corp accountant told me that I should make the contribution by myself and report it in 1040, so it was not reflected in W-2

Re: How can I reflect contributions to an individual 401(k) (also known as a solo 401(k)) for S-Corp in TurboTax? It works for Self employed income only

dmertz — Tue, 18 Feb 2025 00:11:22 GMT

Perhaps the S corp should consider using a different accountant. Or maybe the the accountant was referring to making personal contributions to an IRA rather than contributions to an employer-provided retirement plan. An individual 401(k) plan for an S corp must be established by the S corp.