Thank you, this is most helpful. It appears I will not be able to treat them separately. I own 100% of my LLC treated as a sole proprietorship and my other LLC is a partnership of which I am a 90% owner. I believe this would be considered a brother-sister relationship. The only caveat I see is that ownership structure is different between the two entities, meaning that the same owners do not have ownership in both companies. I will mention that my wife is owns the remaining 10% of my partnership LLC, and while she is not materially involved in the management of the business, it appears her ownership may be attributable to me. Does that my thinking appear to be accurate in regards to not being able to treat the entities separately for retirement plan contributions?
... View more
I have two companies, one I file a schedule C for and is profitable. This is the company with which my solo 401k is attached. I have a second company that is an LLC, limited partnership, and it lost more money than the schedule C company, resulting in a negative net Self-employment income. Can the contributions I made to my solo 401k, still be deducted since the contributions were made in a plan associated with my profitable business, or, does the fact that my overall net Self-Employment income is less than $18,000 mean that the contributions cannot be deducted?
... View more