Dec 19

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?


3 comments so far...

  • Dr. Deth Said on December 19th, 2009 at 10:38 pm:

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

  • bostonianinmo Said on December 19th, 2009 at 11:35 pm:

    You’ll do better with a SEP-IRA.

  • ninasgramma Said on December 20th, 2009 at 12:19 am:

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

    Details are in IRS Pub 560

    http://www.irs.gov/pub/irs-pdf/p560.pdf

    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.

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