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Level 1

Hello, Do Employee Elective Deferral contributions towards solo 401k have to be reported on Form 941 and 940?

 
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QuickBooks Team

Hello, Do Employee Elective Deferral contributions towards solo 401k have to be reported on Form 941 and 940?

I'd be glad to provide the information you need, ruchir-vaishnav.

 

The contribution will decrease the amount on box 2 of the 941, and will not be reported on the 940 forms. You can check out this article on how the it is reported on the other federal forms: Supported pay types and deductions explained. Go to the 401(K) / 401(K) catchup section.

 

If you need more clarifications, please don't hesitate to get back to me. Have a good day!

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Level 1

Hello, Do Employee Elective Deferral contributions towards solo 401k have to be reported on Form 941 and 940?

Thank you much.

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