Re: I'm self-employed, SEP max limit is 25% of net earnings from self-employment. How is net earnings determined - net income, gross payments for services, or something else?

So, how does TT calculate the maximum?

There is a checkbox for Maximize. When selected, it computes a value. Could someone shed some light into what numbers are considered from Schedule C? 20% of Net Profit is not quite matching.

Thank you.

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Re: I'm self-employed, SEP max limit is 25% of net earnings from self-employment. How is net earnings determined - net income, gross payments for services, or something else?

See discussion.
https://ttlc.intuit.com/community/retirement/discussion/sep-ira-limit-is-calculating-incorrectly-tur...

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Re: I'm self-employed, SEP max limit is 25% of net earnings from self-employment. How is net earnings determined - net income, gross payments for services, or something else?

Re: I'm self-employed, SEP max limit is 25% of net earnings from self-employment. How is net earnings determined - net income, gross payments for services, or something else?

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Re: I'm self-employed, SEP max limit is 25% of net earnings from self-employment. How is net earnings determined - net income, gross payments for services, or something else?

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