Recording of Voluntary After-tax Contributions to Solo 401k

[JHoskins]

In TurboTax how does one record voluntary after-tax contributions to a Solo 401k as allowed by the plan? TurboTax asked about salary deferral and catchup contributions but didn't have a place for recording voluntary after-tax contributions in the Retirement section of the Business portion of TurboTax Home & Business.

[AmyC]

The program will tell you the maximum you can contribute based on your income and other factors below. Be sure to enter all business income and expenses before proceeding. When ready, click on the magnifying glass/ search icon and type in solo 401k, then click the jump to SOLO 401k link.

Limits on Contributions

Elective deferrals (contributions) to an Individual or Roth 401(k) plan must be coordinated with any other elective deferrals to ensure that the total does not exceed $19,500 ($25,000 if age 50 or older) for the year. Other elective deferrals include deferrals to employer provided retirement plans shown in Box 12 of Form W-2 and any contributions to a SIMPLE plan. Review all your elective deferrals for the year to be sure you have not exceeded the maximum.