Solo 401(k) and IRA
If I have a solo 401(K) for my single-member S-Corp and I make no salary deferrals in 2021 and make the profit-sharing contribution (25% of my salary) in 2022 for 2021, is it true that I would not be an active participant in a plan for 2021 for purposes of making a deductible IRA contribution?
Permalink Submitted by Alan - IRA critic on Tue, 2021-12-21 19:30
Yes, that is correct.