How about a single 401k that is part of a sole proprietor business?

Posted by Dolores
TheProfessor asked:


Where do contributions for either the deductible portion or the 401k Roth portion get reported? Is there a place on the schedule C or somewhere else?

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This entry was posted on Tuesday, November 10th, 2009 at 5:43 am and is filed under United States. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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3 Responses to “How about a single 401k that is part of a sole proprietor business?”

  1. Dr. Deth Says:
    November 11th, 2009 at 7:38 am

    Caffeinated Content

    you can set up a SEP-IRA - since you’re a sole proprietor - probably just on your 1040

  2. bostonianinmo Says:
    November 11th, 2009 at 2:25 pm

    Caffeinated Content - Members-Only Content for WordPress

    You’ll do better with a SEP-IRA.

  3. ninasgramma Says:
    November 11th, 2009 at 9:34 pm

    Caffeinated Content

    Your deductible contributions go on the 1040 Line 28, not on Schedule C.

    Details are in IRS Pub 560

    You may also be required to file Form 5500 or form 5500-EZ as a separate information return when your accumulation gets over $250,000.