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April 15, 2020
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I’m trying to enter SEP IRA contributions but TurboTax takes me to the traditional IRA contribution which I have already maxed with my employers 401k.

  • April 15, 2020
  • 1 reply
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Best answer by dmertz

Neither SEP contributions nor the contributions you make to your employer's 401(k) are to be entered anywhere under Deductions & Credits.

 

Search for "self-employed retirement" to find the Business section where you enter SEP contributions.

 

Enter amounts shown in box 12 of your W-2 only in box 12 of TurboTax's W-2 form, nowhere else in TurboTax.

1 reply

dmertzAnswer
Employee
April 15, 2020

Neither SEP contributions nor the contributions you make to your employer's 401(k) are to be entered anywhere under Deductions & Credits.

 

Search for "self-employed retirement" to find the Business section where you enter SEP contributions.

 

Enter amounts shown in box 12 of your W-2 only in box 12 of TurboTax's W-2 form, nowhere else in TurboTax.

March 15, 2021

Thanks