meidt193
Level 3
04-07-2020
09:55 PM
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My client has her own business and decided for 2019 to contribute $10,000 to a solo 401-K.
Where is this entered? I have searched high and low and cannot find anywhere to put it in. Her Husband contributes to 403B through his employer.
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abctax55
Level 15
04-07-2020
10:01 PM
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When was the solo 401k set up?
Is it regular or Roth?
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meidt193
Level 3
04-07-2020
10:07 PM
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It was set up in October of 2019 and it is a traditional.
She set it up as a business retirement for herself. She has no employees and has less than 250K , so I do not believe she needs to do a 5500-EZ.
Accountant-Man
Level 13
04-07-2020
10:10 PM
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Same place you enter a SEP IRA and other retirement plans. Adjustment to Gross income.
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abctax55
Level 15
04-07-2020
10:11 PM
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X
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meidt193
Level 3
04-07-2020
10:29 PM
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Thank you so much!!! I put it there and then thought it was wrong! You are definitely a champ!!