Hi there, @bhet. I'm here now, and I'll share some details about categorizing SEP 401K so you can proceed to accomplish your tasks in QuickBooks Self-Employed (QBSE).
I understand how important it is to have the ability to categorize 401k in your QBSE. However, the feature you're trying to access in QBSE is currently unavailable. Please know that QuickBooks Self-Employed focuses on tracking your business-related transactions from your QBSE job/business. We are also calculating your estimated taxes based on the business-related transactions you have categorized in the system, also your Tax profile information and projections.
If you still want to enter your 401k, you'll have to set it up manually and choose a specific category. But before doing so, I highly recommend seeking an accountant's advice. This way, they can guide you on how to account for the deductions in your tax reporting.
Also, know that you can send feedback to our Product Development. This way, they'll see your feature request and consider it for future product updates. I'll gladly input the steps below so you can proceed. To begin, here's how:
- Access your QuickBooks Self-Employed company.
- In the upper right-corner, click the Assistant icon.
- Type Feedback, and then choose Add a feature.
- Write a brief description about the feature that you'd like to request.
- Once done, click Yes.
Additionally, here's an article to help you categorize transactions in QBSE: Categorize transactions in QuickBooks Self-Employed.
You can also visit this page to read and for more tips about handling your contributions in QBSE: Solo 401(k) plans offer advantages for self-employed savers.
@bhet, If there's anything else that you'd like me to assist you with, Or need help performing specific tasks in QuickBooks. Know that you can always get back to me anytime by clicking the REPLY button below. It'll be my pleasure to help you out once again. Take care, and have a good one!
