Where do I exactly enter my solo 401(k) employer contribution portion using Turbotax Home and Biz Windows?

Forum|Forum|5 years ago
July 8, 2020
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I understand how to enter my solo 401k employee contribution portion, but where do I exactly enter my solo 401(k) employer contribution portion using Turbotax Home and Biz Windows version? Is it Employer Matching(Profit Sharing) contributions?

TurboTax Home & Biz Windows

Best answer by DavidS127

So, yes, the Employer portion is entered is the Employer Matching (Profit Sharing) box. If you have questions about the "solo 401(k)", see the IRS website at this link.

DavidS127

Click the "magnifying glass Search" icon on the top row, enter "solo 401k" in the search window and press return or enter, and then click on the "Jump to solo 401k" link. When you answer "Yes" that you contributed to an "individual or Roth 401(k)" the next screen will have the "boxes" you need to enter the employee Elective Deferrals (employee) and Employer Matching amounts.

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DavidS127Answer

So, yes, the Employer portion is entered is the Employer Matching (Profit Sharing) box. If you have questions about the "solo 401(k)", see the IRS website at this link.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"