Question ID: $1427096$

Which of the following is$($are$)$ characteristic of a solo $401($k$)$ plan?

The business owner can make contributions to the plan both as a participant and as an employer, subject to qualified plan limits for elective deferrals and annual additions.

It is a traditional $401($k$)$ plan covering a business owner with no employees, or the business owner and spouse.

A$)$

Both I and II

B$)$

I only

C$)$

Neither I nor II

D$)$

II only