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Where do you enter the employer contribution for an individual 401 (k) for a self-employed taxpayer?
My client is a self-employed taxpayer with a schedule C. He has an individual 401 (k) that allows both elective employee deferrals and employer profit sharing contributions. The taxpayer made a $2,000 elective deferral in 2023 and would like to make a 2023 employer contribution in 2024. The taxpayer also made an allowed $7,500 Roth contribution in 2023.
I entered the $2,000 elective deferral in the "total SE elective deferrals (except Roth) line on Screen 24.
Where do I enter the employer PS contribution?
