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Confused on how to enter my self-employed solo/individual roth 401(k) contributions in Business Income and Expenses

I opened a Solo (individual) Roth 401(k) in 2020 and made contributions.

In TTD Home and Biz>Business>Business Income and Expenses>Individual and Roth 401(k) Plans.

 

There are options to enter contributions as either Individual 401(k)  (top choice on the screen) and Roth 401(k) (bottom choice on the screen).  I made Elective Deferrals as an employee.

 

This is probably very simple, but I'm confused if I'm supposed to enter under Individual 401(k) or Roth 401(k). When I look at my plan documents (Vanguard) it shows 'Individual Roth 401(k)' so that seems to me I should enter my contributions in the top choice.

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2 Replies

Confused on how to enter my self-employed solo/individual roth 401(k) contributions in Business Income and Expenses

Roth contributions aren't deductible {regular 401(k) are}  so you need to be entered them as elective deferrals (line 7a)  in the ROTH 401(K) section.  

in the search box type

Keogh

a new window will open

in the jump to box you'll see

Keogh/Sep/Simple.....

double click on it and you can then scroll down where you can enter your ROTH 401(k) contributions

 

 

 

 

Confused on how to enter my self-employed solo/individual roth 401(k) contributions in Business Income and Expenses

@Mike9241 - sorry for delay in response.  The answer is 'sort of.'  Typing Keogh did not get me to a 'jump to' link in either Home n Biz in TTD or the TTO version, but I knew where I needed to go.  I put it in the roth 401(k) section.  Thx.

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