Documenting a transfer from your existing retirement accounts to your Solo 401k when filing your taxes is pretty simple. The exact lines used to enter your transfer amounts will vary depending on what type of account the transfer originated from as well as what form you are using to file your taxes.

Below you will find instructions on exactly what lines to use depending on whether you’re filing FORM 1040 or FORM 1040A (you cannot use FORM 1040EZ if you have retirement account rollovers/transfers to report) and whether the transfer came from an IRA or a 401k or other qualified plan. Be sure to look at the instructions for your situation.

If filing FORM 1040 (not FORM 1040A):

For transfers from an IRA to your Solo 401k:

  • Enter the total amount of the IRA funds transferred to your Solo 401k on line 15a of your 1040.
  • Enter the taxable amount of the transfer, “0”, on line 15b of your 1040. Enter “Rollover” next to line 15b of your 1040.

For transfers from a 401k or other qualified plan to your Solo 401k:

  • Enter the total amount of the 401k (or other qualified plan such as 403b and 457b plan) funds transferred to your Solo 401k on line 16a of your 1040.
  • Enter the taxable amount of the transfer, “0”, on line 16b of your 1040. Enter “Rollover” next to line 16b of your 1040.
     

If filing FORM 1040A (not FORM 1040):

For transfers from an IRA to your Solo 401k:

  • Enter the total amount of the IRA funds transferred to your Solo 401k on line 11a of your 1040A.
  • Enter the taxable amount of the transfer, “0”, on line 11b of your 1040A. Enter “Rollover” next to line 11b of your 1040A.

For transfers from a 401k or other qualified plan to your Solo 401k:

  • Enter the total amount of the 401k (or other qualified plan such as 403b and 457b plan) funds transferred to your Solo 401k on line 12a of your 1040A.
  • Enter the taxable amount of the transfer, “0”, on line 12b of your 1040A. Enter “Rollover” next to line 12b of your 1040A.

Entering this information on your 1040 or 1040A will show the movement of the funds and that the transfers are not taxable.

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