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futurestrader39
Level 3
February 25, 2021
Question

solo 401k

  • February 25, 2021
  • 1 reply
  • 0 views

I wanted to check I did the deduction correct because it didn't deduct anything from what I owe.

 

I made an employer deduction ( I have an LLC) to my Solo 401k for $6,000, i selected employer match and entered in $6,000 but my overall tax payment didn't decrease at all. I was under the assumption I could deducted my contribution to help lower my taxes. 

 

any help would be awesome, trying to get this done before the 28th to receive the discount.

 

Thanks

    1 reply

    F
    futurestrader39Author
    Level 3
    February 26, 2021

    anyone have any thoughts on this? this is the last thing I need and dont really want to have to pay $170.00 to ask turbotax.

     

    Thanks again!

    KathrynG3
    KathrynG3
    Level 14
    March 3, 2021

    You can send us a diagnostic file that has your “numbers” but not your personal information. This will allow us to open a copy of your return.

     

    If you would like to do this, follow these steps: 

    1. From the left menu, select Tax Tools. 
    2. Then select Tools. 
    3. Select Share my file with Agent and OK. 
    4. Then, you will get a pop-up with a Token number. 
    5. Reply to this thread with your Token number.  

    We will then be able to see exactly what you are seeing and can help diagnose the issue.

     

    @futurestrader39

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