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GF has a Solo 401k converted from an IRA. With her old SEP IRA, she would wait until she had done her taxes and then make a one time contribution for the previous year based on the allowed amount. She has done the same this year, not considering whether or not the rules were the same. I thought it might be that Solo 401k's follow similar rules to traditional 401k's which require contributions to be made during the calendar year in which they are deducted.

Can anyone give me a short primer in how Solo 401k's work so I can let her know what she has to do now as she finalizes her 2011 taxes?

Who notes she now realizes it may be too late to make a 401k contribution, but if so she could still open up a new SEP IRA, make a smaller contribution there and roll it over to a Solo 401k IRA like she did with her previous SEP IRA last December...
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