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March 23, 2025
Question

Self-employed retirement contributions

  • March 23, 2025
  • 1 reply
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I am working on my 2024 return and am self-employed.   I originally entered a contribution to a Traditional SEP, but then I learned that my investment account is actually an Individual 401k.  When I tried to change the entries in Turbo Tax it won't allow me to eliminate the SEP contribution and if I add the 401k it show double the amount that I intend to contribute.   How can I remove the SEP contribution and only claim the 401k?

    1 reply

    Employee
    March 23, 2025

    To eliminate the SEP-contribution entry you must either tell TurboTax that you made a SEP contribution and explicitly delete the amount entered or unmark the Maximize box, or you must delete the Keogh, SEP and SIMPLE Contribution Worksheet and begin the self-employed retirement section again.

    March 25, 2025

    The first step that you suggested simply does not work!  How do I access the Worksheet in order to delete it?

    March 25, 2025

    Here's how to view and delete forms in TurboTax online.

     

    If you're using the desktop program just switch to forms view.

     

    @mikeflorio 

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