401K Solo contribution limits.

[Robert Stamper]

Hi everyone. Are 401K solo contributions limited to the amount of income made in the single member LLC?

Example. Let's say I made $1,000,000 on a W2 job and made $10K on a single member LLC.   Could I put $50K in a 401K solo or would contributions be limited to the net income of the LLC ($10K)?

Thanks in advance!

Robby

 

[Daniel Dietz]

My understanding is that you can only put what is earned in the "self employed" business. I am sure that some of the Pros will chime in too.

What you CAN do however is 'roll' unlimited amounts over into your SOLO401K. So if you have say 100K in a regular IRA and 200K from an old 401K, ALL of that can be rolled in, OTHER than those funds held in a ROTH for some obscure reason.