topic Employee Max Roth Solo contribution in Self employed

Employee Max Roth Solo contribution

fjk031 — Mon, 09 Mar 2026 11:48:09 GMT

I am using Turbotax Home & Business version I purchased. I am a self-employed independent contractor. I know I can contribute $19,500 to Roth Solo employee contribution + $6,500 catch up contribution. I plan to send contribution after filing taxes, but before April 15, 2022. When I enter these figures + employer contribution of $38,500 (as I am my own employer) under page Individual and Roth 401(k) Plans, my current Federal Refund amount flips into a "Taxes Owed". Why is this happening? What am I doing wrong? Should I not enter any amount on this page, and get the refund and then send the amounts in to my investment financial institute? Need help please.

Re: Employee Max Roth Solo contribution

RobertB4444 — Wed, 06 Apr 2022 03:01:47 GMT

@fjk031 You are entering the contributions in the wrong place. Delete the contributions that you entered and then follow these instructions to enter your self employed retirement plan contributions.

Re: Employee Max Roth Solo contribution

fjk031 — Fri, 08 Apr 2022 14:18:36 GMT

This really does not help. The link only takes me to unrelated and on-going conversations covering other topics.

Re: Employee Max Roth Solo contribution

DaveF1006 — Tue, 12 Apr 2022 20:20:51 GMT

On the employer/employee side of it, the contribution is limited to 25% of the employee compensation for the year.