Solo Roth 401k Contribution - Need to Put in My Taxes?

Question

I just started a self-directed Solo 401k in 2010 and made a Roth contribution for that year. Is there a place that I need to note my contribution on my taxes? Or, since the Roth contribution is taxed upfront, do I not have to do anything?

Steven Hamilton II · Answer

A few questions first. You started a Self directed Solo 401(k), is that account a Roth or traditional account?

Roth contributions to an IRA or to a Roth 401k have no effect on your tax return.

If you set up your business to match contributions, then the matches that the business makes are deductible.

Solo Roth 401k Contribution - Need to Put in My Taxes?

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