I have a C corp. Thinking of switching to an S corp. The question is if I can create a solo 401k with an S corp?

[dev145]

Hello fabs,

Simple answer is yes, single member S-corp. can has a solo 401k. The key requirements are that you have earned income reported on your W-2 from the S-corp, and you have no other full-time W-2 employees working for the business. As long as it is just you as the only employee, you can sponsor a Solo 401k plan for yourself through your S-corp.

But note, if you plan to expand or hire employee, your solo 401k will become ineligible.

Thanks for participating in TurboTax's Ask the Expert event today. I hope this information was helpful!

**Please cheer or say thanks by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Regards,
TurboTax Expert