Questions tagged [solo-401k]

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Shutdown my Solo 401(K) plan and form 5310

I recently shutdown my Solo 401(K) plan at E*Trade. I plan to file form 5500EZ. I have distributed the money to a traditional IRA and a Roth IRA. None of the money went into another 401(K) plan. Do I ...
Bob's user avatar
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Correcting excess 401k contribution to solo 401k -- Do I have to file a 1099 R before I can file my 2020 taxes?

In 2020 I left a corporate job and started my own business. I established a solo-401k and accidentally made an excess contribution to the solo 401k due to a previous contribution in my last job's 401k....
Jonathan's user avatar
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20% pass through deduction + ~20% solo 401k deduction?

From what I hear none of the 401k stuff has been modified in the new tax bill This means SOLO 401ks would still have like 20+% profit contribution maxes, up to the $53k or so upper limit from entity ...
CQM's user avatar
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Consolidating Multiple Solo 401k Plans into One

My spouse and I have separate solo 401k plans (let’s call them Plan A and Plan B), which we opened a few years ago when we undertook self-employed activities. This year, we opened an LLC as QJV and ...
illuminato's user avatar
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What are the rules regarding early withdrawal of contributions from a Roth IRA after a rollover from a solo Roth 401(k)?

Plan Open a solo Roth 401(k) (I'm self-employed) and contribute roughly $50,000 during the first year Wait some amount of time, if necessary? Rollover the Roth 401(k) into my existing Roth IRA ...
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Do I need to report contributions to a Solo Roth 401(K) plan every year?

I am self employed. I recently shutdown my individual 401(K) plan at E*Trade. There was also a Roth 401(K) plan also. I am not sure if it is one plan or two. I have been told by somebody at E*Trade ...
Bob's user avatar
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Solo 401K with a Solo Roth 401K and MEGA Backdoor Roth

In 2020, I have worked as both a sole proprietor / individual contractor with no employees and as a W2 part-time employee. I am 41 yrs old (under 50) and will have multiple streams of income in 2020: ...
kp123's user avatar
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How can I calculate an employer 25% contribution for a solo 401k in advance?

My situation: I am the sole employee of an S-Corp. In 2016, based on a reliable contract, I can expect a gross of $80K. Typically, I have $2-3K in expenses. I'm under 50. Because of our overall ...
Stonetip's user avatar
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What business tax forms are impacted by adding an employer non-elective 401(k) contribution?

Bob is the owner and only employee of an S-corporation. For tax year 2023, he pays himself a salary of $150,000 and elects to defer $22,500 to a one-participant 401(k) plan. Bob also wants to add ...
jstricker's user avatar