mgbtax
New Member

SEP IRA maximize?

Hello all,

 

I have a small sole proprietorship in addition to my regular employment.  No employees it is just me.  In Turbo Tax I see where I put in the amount I contributed to it for 2019.  But to the right there is a Maximize check box.  If I check the box it it changes my return by a few hundred dollars.  But I am not sure if I should and dont want to do anything wrong.  Can anyone explain why that option is there and what any ramifications are?

 

Thanks

Mike