Hi Mark and Mat,
-I’m a 40 y/o married filing jointly. I have my s-corp that provides services to it’s clients and I’m the only employee in my S-corp, annual net profit is $65,000 with an annual salary of $22,000 and $43,000 as K1 . I contributed $20,500 to my solo mega back door Roth 401k for 2022, also matched 25% ($5,500) and profit shared 35,000 to max out the contribution for the year 2022. How to calculate my W2 salary to account for my Roth 401K contributions?
-I also contributed $6,000 to my Roth Ira for 2022-Do I report my Roth IRA contribution on my W2?
Can the Roth IRA contribution come from my distributions of the s-corp profits or it must come from my W2 wages?