Partner deducts 401(a) PLUS 401(k)?

[rcline46]

I got lost in regulations. A sole prop/partner can deduct 20% of income (25% of net) for a contribution to a plan. Can the partner ALSO deduct the $15,500 401(k) contribution in addition to the 20%? If so, is there a direct or indirect cite to this?

I am 'discussing' this with an accountant who says no.

[Jim Chad]

Yes, you can do both

Section 404 says that the deferral is deductible separate from the employer contribution.

[Belgarath]

But watch out for 415 limits. Both are included in the 415 limitation.

[rcline46]

Got it! Thank you.