Belgarath Posted October 14, 2005 Posted October 14, 2005 Sole prop makes a deferral election prior to the end of 2004 to defer 14,000 for 2004. Now as he is finalizing his taxes, he decides he only wants to put in $12,000. Now I know that being a sole prop he may search his files and find the corrected election that he did last year. But assuming he doesn't, is there any legal way for him to avoid making this deferral, assuming he has at least 14,000 in income? I can't find one, but I'm probably missing something obvious. Thanks.
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