Please check out this good question from our Daily Live Zoom call. Subscribe to our YouTube Channel to get notifications of our Daily FAQs.
Solo 401k Contributions – Are contributions reportable by the Solo 401k plan?
QUESTION:
We were wondering if you had a system for us to input our client’s 401(k) contributions with My Solo 401(k).
RESPONSE:
You do not report your contributions to My Solo 401(k) Financial. While solo 401k contributions are accounted for by depositing them into the solo 401k bank or brokerage account, they are reported on your personal and business tax return. You may also use the online annual contribution form located on our website to internally document the contribution. This form is for your records only.
