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TaxxyDude
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Where Does Turbo Tax Report Employer Matching Contributions?

I am over 50 years of age and am using Turbo Tax for Home and Small Business 2018 and am working on my SELF-EMPLOYED RETIREMENT PLAN.

In my case, I have earned enough money to enable me to make contributions to my:

  • INDIVIDUAL 401K ELECTIVE DEFERALS
  • CATCH-UP CONTRIBUTIONS
  • EMPLOYER MATCHING (Profit Sharing) CONTRIBUTUIONS.

I have chosen to check the box to have Turbo Tax MAXIMIXE MY CONTRIBUTIONS TO INDIVUDUAL 401(k).

Turbo Tax, in turn. tells me my maximin allowable contribution to my 410(k) plan which is $24,500 and then on the summary screen tells me the amount that it has ALREADY CONTRIBUTED TO ALLOWABLE PLANS.

I’m assuming that if I subtract the $24,500 from the Maximum that Turbo Tax has contributed to allowable plans, that I arrive at the amount of money contributed by my EMPLOYER MACHTING (Profit Sharing) CONTRIBUTIONS.

If this is assumption is  correct, where in Turbo Tax can I check to confirm the actual amount the Turbo Tax has allocated to my Employer Matching Contributions?

Also, by what date does my employer (which is me) have to make that contribution?

By what date do I have to make the $24,500 contribution to my Individual 401K?


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2 Replies

Where Does Turbo Tax Report Employer Matching Contributions?

Arn't you seeing the answers to yoyr previous questions?
<a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/users/f3c94827-dd11-413a-a8c5-fda50c327fcf">https://ttlc.intuit.com/users/f3...>
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
Anonymous
Not applicable

Where Does Turbo Tax Report Employer Matching Contributions?

it seems this same question has been asked over and over.    anyway. the only thing you need to do in TT is check maximize which you already have done.  there is a worksheet in forms mode that will show you the maximum you can contribute.  

see this for maximum amounts    


https://www.fool.com/retirement/2017/12/09/the-maximum-401k-contribution-limits-for-2018.aspx


A 401(k) must be set up by Dec. 31 of the year for which you make a contribution. This is also true for one-participant 401(k) plans used for self-employed individuals.


The employer has until the business income tax return due date, including extensions, to make the contributions.

for an individual - such as a single member LLC, the due date of the 1040 including extensions. 

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