how to find self-employed 401k contribution info in TurboTax?

Forum|Forum|11 months ago
April 7, 2025
3 replies
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I use the TurboTax Home&Biz desktop edition to do my tax returns. The TurboTax will give me a number I can contribute based on my situation each year. Each time Fidelity asks me for some detailed information about the contribution, such as the employee portion, and employer portion, ..... Is there a way to find this information in the TurboTax?

TurboTax Home & Biz Windows

Best answer by likesky1010

In case somebody else needs it.

Steps to View 401(k) Contribution Details:

Open your return in TurboTax Desktop.
Go to the “Forms” mode (click on the “Forms” button in the top right).
In the left sidebar, scroll to find and open:
- Keogh, SEP, and SIMPLE Contributions Wks
  (even if you're using a solo 401(k), TurboTax puts it here)
Look for the section labeled “Self-Employed Retirement Plans”.
You’ll see:
- Net Profit from your Schedule C
- The calculation of the allowable contribution, including:
  - Elective deferral (up to $23,000 for 2024 if under 50, or $30,500 if 50+)
  - Employer profit-sharing portion (up to 20% of net earnings)
- Total allowed contribution.

PatriciaV

Employee

Yes. The Self-Employed Retirement topic is found under Business Deductions. As you work through that topic, TurboTax will provide the information you need.

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likesky1010AuthorAnswer

In case somebody else needs it.

Steps to View 401(k) Contribution Details:

Open your return in TurboTax Desktop.
Go to the “Forms” mode (click on the “Forms” button in the top right).
In the left sidebar, scroll to find and open:
- Keogh, SEP, and SIMPLE Contributions Wks
  (even if you're using a solo 401(k), TurboTax puts it here)
Look for the section labeled “Self-Employed Retirement Plans”.
You’ll see:
- Net Profit from your Schedule C
- The calculation of the allowable contribution, including:
  - Elective deferral (up to $23,000 for 2024 if under 50, or $30,500 if 50+)
  - Employer profit-sharing portion (up to 20% of net earnings)
- Total allowed contribution.

likesky1010Author

Steps to View 401(k) Contribution Details:

Open your return in TurboTax Desktop.
Go to the “Forms” mode (click on the “Forms” button in the top right).
In the left sidebar, scroll to find and open:
- Keogh, SEP, and SIMPLE Contributions Wks
  (even if you're using a solo 401(k), TurboTax puts it here)
Look for the section labeled “Self-Employed Retirement Plans”.
You’ll see:
- Net Profit from your Schedule C
- The calculation of the allowable contribution, including:
  - Elective deferral (up to $23,000 for 2024 if under 50, or $30,500 if 50+)
  - Employer profit-sharing portion (up to 20% of net earnings)
- Total allowed contribution.