Question

There are two places to enter IRA contributions: the Income section under Self-Employed Retirement Plans, and under Deductions and Credits. Do I enter mine in both?

Forum|Forum|4 years ago
April 12, 2022
1 reply
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I'm self-employed and just recently set up both an IRA and SEP plans. I don't know where to enter those contributions. Just under self-employed retirement? Or also under deductions

TurboTax Self Employed Online

T

ThomasM125

Your maximum SEP contribution is limited by your self-employment income, so I suggest you start there and contribute up to your maximum to the SEP IRA. You can then enter a non-SEP IRA contribution if you want to contribute more and you have more allowable contributions available.

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