Below Ground
Apr 21 2008, 03:40 PM
On what forms and on what lines does the Sole Proprietor use to deduct his/her Salary Deferral, Employer Contribution for himself/herself, and Employer Contribution for employees? I assume that deferrals by employees are a payroll expense. Thanks!
masteff
Apr 21 2008, 03:57 PM
Sole prop would be a Schedule C filer. Employer contributions for employees are reported on Sch C, line 19. All contributions for the owner are reported on form 1040, line 28. And yes, employee deferrals are part of gross payroll expense.
Below Ground
Apr 21 2008, 04:03 PM
Excellent! Could not have gotten a better answer! Thanks!
This is a "lo-fi" version of our main content. To view the full version with more information, formatting and images, please
click here.