ANSWER: I ran a contribution calculation using the online solo 401k contribution calculator, and here is the maximum you can contribute based on your $10,000 net-income. Note that the starting figure for the calculation is line 31 of Schedule C when the self-employed business entity type is a sole proprietorship. So this calculation is based on the assumption that line 31 is $10,000. Maximum solo 401k contribution is $9,293.52. Lastly, this calculation further assumes that you are not making 401k contributions to any other 401k plans such as full-time employer 401k plan.
Click here to learn how to manually calculate the annual solo 401k contribution for a sole –proprietor.