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Updated over 3 years ago on . Most recent reply

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7
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Lorinda Fields
1
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7
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Funding a Solo 401k

Lorinda Fields
Posted

I am planning to transfer my IRA into a solo 401k so I can invest in real estate.

I am planning to use my 1099 income to fund it on a regular basis.

Do I need to file a different tax form where I would pay medicare and ss taxes?  I have heard that paying these taxes is a requirment to fund a solo 401k.

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874
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Dan Schwartz
  • Real Estate Investor
  • Tempe, AZ
647
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874
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Dan Schwartz
  • Real Estate Investor
  • Tempe, AZ
Replied

@Lorinda Fields if you have been filing 1099 income on schedule c without also filing a schedule se, you might want to have someone new look at your past tax returns.  

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