There is a complicated calculation involved with Individual 401Ks. But they would be deducted as an above the line deduction, not as a business expense.

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Replying to:

I've been looking all over, but I can't find out exactly where Solo 401(k) contributions are supposed to be deducted on my tax return. Do they get included as business expenses on Schedule C or do they go on line 32 of my 1040 or do they go somewhere else that my little mind hasn't even considered??

Thanks in advance!

Zip Code: harryrwiglercpa@aol.com

Thanks for your help - this is a great service.

I guess your answer makes the most sense since otherwise you could avaid SE tax with a 401(k) contribution (which would have been nice , but oh well).

Zip Code: rolleur@excite.com