solo 401k with Sch C and K-1..?
Posted: 16-Jan-2020 9:44am
A client has had a Sch C business for a while. She has a solo 401k plan.
Last year, she became a minority partner of a partnership. This partnership is losing money for now, and she has no capital contributed..But she receives guaranteed payments from the partnership. The partnership has no retirement plan set up.
In calculating MAX 401k contribution figure, can she include the guaranteed payments as her business income?
I don't think she can...but any opinions on this?
Last year, she became a minority partner of a partnership. This partnership is losing money for now, and she has no capital contributed..But she receives guaranteed payments from the partnership. The partnership has no retirement plan set up.
In calculating MAX 401k contribution figure, can she include the guaranteed payments as her business income?
I don't think she can...but any opinions on this?