How do Owners Track 401K and Match amounts for Owner's Draw - Desktop
Hello everyone,
I'm using Quickbooks DesktopI just started a PEP 401K plan with Fidelity and was able to figure out how to track my employee contribution and match amounts through the payroll items lists, but my question is, How are Sole Prop owners that take an owner draw track their 401k contributions and match amounts to show participation and NDT? Is an end-of-the-year statement from Fidelity sufficient to use against your gross income for that year?
Could someone who is doing this unpack it for me?
Thanks so much!
TF
