I have a multi-member LLC and one of the members has a SE-401(k) plan. The LLC made distributions throughout the year and the member made their own $30,500 contributions to their 401k ($23k + $7.5k catch-up). The LLC also made a $5k contribution to their 401k (part of the "employer" contribution of up to 20% of net income). It was only $5k as the rest was contributed in 2025 as a 2024 contribution.
Line 13 on the member's Schedule K-1 has an R for the $5k. But when adding that K-1 to the personal taxes, there's an issue on the Keogh, SEP and SIMPLE Contribution Worksheet because that $5k is showing up in line 6b, "Elective deferrals to an individual 401(k) plan" instead of where I would think it would go, line 6e, "Enter the total employer matching (profit sharing) contributions made to an individual 401(k) plan for 2024".
Am I misunderstanding something here?
When entering Schedule K-1, after checking the box for Box 13 and entering Code R, no amount needs to be entered. A following page "Enter Code R Detail" will present many options for the amount reported to the partner, including "Employer Matching Contributions to 401K." Enter the amount in this box.
This entry will transfer to the Keogh/SEP Worksheet on Line 6(e) as employer matching.
When entering Schedule K-1, after checking the box for Box 13 and entering Code R, no amount needs to be entered. A following page "Enter Code R Detail" will present many options for the amount reported to the partner, including "Employer Matching Contributions to 401K." Enter the amount in this box.
This entry will transfer to the Keogh/SEP Worksheet on Line 6(e) as employer matching.