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PDtax
PDtax, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 4094
Experience:  35 years tax experience, including four years at a Big 4 firm.
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I own a sole proprietor real estate business and have a

Customer Question

I own a sole proprietor real estate business and have a question about my individual (solo) 401k: is the profit sharing portion of my contribution tax deductible? Thanks for your advice!
Submitted: 10 months ago.
Category: Tax
Expert:  PDtax replied 10 months ago.

Hi from just answer. I'm PDtax. I'll assist.

Expert:  PDtax replied 10 months ago.

The profit sharing portion of your solo 401k is indeed deductible as a business deduction.

Thanks for asking at just answer. Positive feedback is appreciated. I'm PDtax.