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February 28, 2021
Question

SEP IRA maximum contribution for join filing

  • February 28, 2021
  • 1 reply
  • 0 views

I am doing a job and I am protected for retirement plan at my job. My wife does a home based business. We want to file the return as "Married filing jointly". How do I enter line 15 (Self-employed SEP, SIMPLE, and qualified plans) in Schedule 1? 

1 reply

March 1, 2021

To enter a self-employed pension contribution into TurboTax:

  • Type sep ira contributions in Search in the upper right
  • Click Jump to sep ira contributions
  • Click Yes on Keogh, SEP and SIMPLE Contributions
  • Enter your contribution amount. If you check Maximize, TurboTax will show you the maximum amount

Related Resource:

SEP Contribution Limits (including grandfathered SARSEPs)

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