A client received a K-1 which has two figures in Box 13, Code W. The explanation shown on a supporting worksheet shows:
Profit Sharing Plan contributions....see Form 1040 instructions for line 25
HSA Contributions........................see Form 1040 instructions for line 25
I don't see how anything but the HSA contributions would relate to line 25.
Another worksheet lists as non-deductible: political contributions, Profit sharing plan contributions, accrual to cash adjustment, 401(k) plan contributions (shown as zero)
and HSA contributions.
What should I do with the Profit sharing contributions?
Profit Sharing Plan contributions....see Form 1040 instructions for line 25
HSA Contributions........................see Form 1040 instructions for line 25
I don't see how anything but the HSA contributions would relate to line 25.
Another worksheet lists as non-deductible: political contributions, Profit sharing plan contributions, accrual to cash adjustment, 401(k) plan contributions (shown as zero)
and HSA contributions.
What should I do with the Profit sharing contributions?