412i plan in Scorp with loss
I have a single officer owned SCorp who has a $22k loss. There is a 412i plan annual contribution of $57K and a Officer salary of $29K.
My question is, can I pass the loss onto the K-1, he has basis, and offset it agains the W2 income from that very Scorp? I'm worried that because the 412i is a defined benefit plan and self employed individuals who contribute to these plans are limited to there income, they have put too much money into the plan.
It's too late to recharacterize the salary, all 941's and W2' for 2013 have been filed.
Suggestions are helpful.