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  • Reporting Solo 401k Contributions on Form W-

    2 Replies
  • Linda Wang

    Top SubjectSolo 401k Contributions
    Top ForumsSolo 401k Contributions

    Linda Wang

    Linda Wang

    Top SubjectSolo 401k Contributions

    January 26, 2022 at 9:12 am

    We are an S-Corp.

    For year 2021, I made (1) Employee Contribution to ROTH Solo 401k: $26,000
    (2) After-Tax Contribution: $38,500 => later did an In-Plan Conversion After-Tax to Roth Solo 401k.

    Since I did an In-Plan Conversion After-Tax Contribution to Roth Solo 401k in year 2021, do I report $38,500 as After-Tax Contribution in box 14 of Form W-2 or should I report $38,500 as Roth contributions in box 12 of Form W-2 using Code AA (since the money $38,500 is in my Roth Solo 401k account after the conversion)?

    W-2 Reporting –

    (1) Form W2 box 12 using Code AA : $26,000

    (2) Form W2 box 14: $38,500

    OR

    Form W2 box 12 using Code AA : $64,500 ($26,000+$38,500)

    Thank you!

    Linda Wang
  • George Blower

    Top SubjectSolo 401k,Solo 401k Contributions
    Top ForumsSolo 401k, Solo 401k Contributions

    George Blower

    George Blower

    Top SubjectSolo 401k,Solo 401k Contributions

    January 26, 2022 at 11:35 am

    @LinWang

    Linda Wang

    Top SubjectSolo 401k Contributions

    Thank you for posting your question!

    1) First, only contributions are reported on the w-2 for the year for which the contribution is made. This means that contributions made for the year 2021 are reported on the w-2 for 2021 (even if the contribution is in fact deposited in 2022).

    2) Second, conversions are not reported on the w-2. Instead, conversions are reported on a 1099-R for the year during which the conversion occurred.

    3) Finally, reporting voluntary after-tax contributions is optional (voluntary and not required) but if you choose to do so such contributions are reported in box 14 per the w-2 instructions.

    For more info on contributions, please see our contribution guides: https://www.mysolo401k.net/solo-401k-contributions-mega-backdoor-solo-401k-guides/

  • Linda Wang

    Top SubjectSolo 401k Contributions
    Top ForumsSolo 401k Contributions

    Linda Wang

    Linda Wang

    Top SubjectSolo 401k Contributions

    January 26, 2022 at 4:08 pm

    Thank you!!

    Linda Wang

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