I just want to enter a dollar amount for the annual contribution that I will make to my SIMPLE IRA as a self-employed individual. No instructions that I find anywhere on in the FAQ or Community Support tell me accurately how to do this. Even Intuit's own FAQ responses tell me to go places that don't exist, or that are under title's that don't exist.
If you have a self-employed retirement plan, such as a SIMPLE IRA, you'll need to upgrade to TurboTax Self-Employed. TurboTax Premier Edition does not support this tax situation.
To enter your SIMPLE IRA contributions in TurboTax Self-Employed:
TurboTax automatically carries the deductible amount of your SIMPLE IRA contribution to Line 28 of your Form 1040. It is an adjustment to income, meaning the allowable amount is subtracted from your total income to arrive at your adjusted gross income (AGI). You can see this for yourself by previewing the Form 1040 and scrolling down to Line 28.
For more information, please click this IRS link: SIMPLE IRA Tips for the Sole Proprietor
Thank you for the detailed response. It is by far the most comprehensive. I do have the Self-employed version of the software. My confusion, and it seems of those asking before me, was that the prior instructions provided (or community commentary) lead one to think that they should be looking within the various HIGHLIGHTED sections on the Income & Expense page rather than looking below EVERYTHING else on the page to find the little section that looks like an otherwise irrelevant footnote. I eventually found it purely by chance. It would be far more intuitive if this vast section of other information was also within the highlighted section. But maybe that is just me. Regardless, thank you again for your help!
Turbo tax self employed does not have a specified section for Simple IRA just traditional or Roth IRA
Where to enter your SEP IRA contribution
https://ttlc.intuit.com/community/retirement/help/where-do-i-enter-my-sep-ira-contributions/00/26783
Use the Search box. Type in "self-employed retirement". Clicking on "Jump to self-employed retirement" it should take you directly to the Self-Employed Retirement Plans screen.
Go to Federal
Income
Scroll down to Other Business Situations
Self Employed Retirement Plans
or it might be under the Business tab in the Home & Business version.