I'm getting mixed messages reading around the web on this.
I know for sure that traditional Solo 401(k) contributions made as the EmployER reduce QBI. Many sites emphasize this.
Do Traditional Solo 401(k) contributions made as the EmployEE through an employee deferral also reduce QBI?
In other words is QBI reduced by all traditional Solo 401(k) contributions regardless if they are classified as EmployER or EmployEE? Or is it only reduced by the ones made as EmployER?
I know for sure that traditional Solo 401(k) contributions made as the EmployER reduce QBI. Many sites emphasize this.
Do Traditional Solo 401(k) contributions made as the EmployEE through an employee deferral also reduce QBI?
In other words is QBI reduced by all traditional Solo 401(k) contributions regardless if they are classified as EmployER or EmployEE? Or is it only reduced by the ones made as EmployER?
Statistics: Posted by GoldenBear17 — Tue Mar 05, 2024 3:08 am — Replies 4 — Views 201