1. Home
  2. Taxes General Forum
  3. Question about increased 401k contribution due to disallowed deduction (Sole Proprietorship)

Question about increased 401k contribution due to disallowed deduction (Sole Proprietorship)

In case a business expense deduction is disallowed as a result of an audit, adjusted gross income will increase, and the maximum allowable

401k contribution will increase as well. Will the IRS allow the taxpayer to contribute additional amount to the 401k, in case a deduction is disallowed.
Reply to
John Bliss
Loading thread data ...

No, because the contribution must be made in that year.

Reply to
removeps-groups

BeanSmart website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.