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Level 3
posted Oct 9, 2023 8:52:21 AM

choosing from several options, where to enter ROTH and 401(k) info

I'm confused and looking for reassurance. I entered my personal 401(k) contribution, and my ROTH contribution, both while in the Business (self-employed) section of TurboTax. 

Now I'm in the Personal section, and it's asking me for this information again. And the fields show $0. 

Since I'm self-employed, should I ONLY enter this info in the Business section, as I did, and leave my ROTH and 401(k) values at $0 while in the Personal section? 

And why isn't TurboTax cross-checking this? 

thank you

0 3 413
3 Replies
Level 15
Oct 9, 2023 8:57:14 AM

Do not enter any contributions in the Personal section of the program since you have already entered those in the Business section.

Level 3
Oct 9, 2023 9:38:04 AM

Thank you Donin. 

Level 15
Oct 9, 2023 6:08:21 PM

To be clear, your 401(k), including the designated Roth account in your 401(k), is not an IRA.  As DoninGA indicated, traditional and Roth 401(k) contributions go in the Business section.  If you made any ordinary (not SEP or SIMPLE) IRA contributions (you do not seem to have made any unless you have mischaracterized your Roth contribution), those would go in the Deductions & Credits section.