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April 6, 2025
Question

I file Schedule C as a sole proprietor. Should I enter a profit sharing amount as Profit Sharing Keogh? Or is that an employer matching contribution to individual 401K?

  • April 6, 2025
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I entered the profit sharing amount as Profit Sharing Keogh. Turbo Tax worksheet counted the amount twice as Profit Sharing Keogh and employer matching contribution to individual's 401K. How do I correct the double counting?