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Where to enter self employed minister contribution to 403(b) retirement plan. earnings reported on schedule c.

cpajww
Level 2
I see keogh, simple, defined benefit and 401k worksheet but no 403b
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4 Comments 4
qbteachmt
Level 15

The IRS knows:

https://www.irs.gov/publications/p571

You can’t set up your own 403(b) account. Only employers can set up 403(b) accounts. A self-employed minister can’t set up a 403(b) account for his or her benefit. If you are a self-employed minister, only the organization (denomination) with which you are associated can set up an account for your benefit.

Do I Report Contributions on My Tax Return?

Generally, you don’t report contributions to your 403(b) account (except Roth contributions) on your tax return. Your employer will report contributions on your 2021 Form W-2. Elective deferrals will be shown in box 12 with code E for pre-tax amounts and code BB for Roth amounts, and the Retirement plan box will be checked in box 13. If you are a self-employed minister or chaplain, see the discussions next.

Self-employed ministers.

If you are a self-employed minister, you must report the total contributions as a deduction on your tax return. Deduct your contributions on line 16 of the 2021 Schedule 1 (Form 1040).

 

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cpajww
Level 2

 

My question was where is the entry sheet in pro series ?

 

I See entry form that includes:  Keogh, Simple, Defined Benefit, 401k  BUT NO 403b

 

So my final question is:   Where do I find entry form for 403b contribution by self employed minister

 

Thank you

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tsorensen
Level 2

Did you ever figure out the answer to your question?

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qbteachmt
Level 15

It is entered as an Adjustment to Income.

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