If the pre tax contribution is added back in for a normal employed person, I can't see why it won't be for your scenario, the HELOC money would look like income per se as you have drawn on the line of credit. Your contribution limits are quite high for self employed sole proprietors, but wow that looks scary in the current conditions of?? an impending recession, and HELOCS are always variable rate, no? And there is no tax benefit to your use of the HELOC as it isn't for home improvements. As of 18.
Do you know what your 401K return was for last alone vs overall? Or try a YTD figure. Your HELOC is going ot be super low, like 3 ish? You have no mortgage, I assume?