Updated over 7 years ago on . Most recent reply
Small business retirement plan
I own a rental property via an S corporation, and was curious if I could set up a 401K for myself as both employer and employee. I already have a 401K at my primary job, and max that out, as well as max out a Roth IRA. Any advice would be welcome.
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Dmitriy Fomichenko
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Dmitriy Fomichenko
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Contributions to retirement plan can only be made from the earnings (you can't contribute if you have no income). Also rental income is considered to be "passive" and not eligible for contributions to a 401k.