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🚫 1099-INT, 1099-DIV, 1099-R: Do They Count for a Solo 401k?
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Question: I get 1099-INT from my savings account and 1099-DIV from my brokerage account. Can that income qualify me for a Solo 401k or count toward contributions?
Answer: Only Form 1099-NEC income counts. Interest on Form 1099-INT and dividends on Form 1099-DIV are passive investment income, not earned income from self-employment. Distributions reported on Form 1099-R, including required minimum distributions, also do not qualify, so an RMD cannot be deposited back into a Solo 401k. Personal stock and securities gains are excluded for the same reason. Without self-employment income, these forms cannot be used to open a Solo 401k or to contribute to one.
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Earned Income Defined for Solo 401k Contribution Purposes - My Solo 401k Financial
My Solo 401k Financial offers self-directed Solo 401k, IRA LLC & ROBS 401K Retirement Plans. Learn about Earned Income Defined for Solo 401k Contribution Purposes
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