My wife and I are 66. I am self employed and want to contribute to an existing SEP IRA. My wife is employed by a corporation and she contributed $11,520 to Roth 401(k). At the end of TT Deductions/Credits section, software says "Amount to be contributed by plan Due Date" is $5208. Fine. Very next page says "Here are your 2018/2019 Deductions and Credits". That page has a section called Deductions and a line that says "Self-Employed SEP or SIMPLE" ........$16,728. That number is clearly the sum of the $5208 and $11520. But why is it adding a pre-tax and post-tax contribution to get a total deduction? And, more importantly, How much should I contribute to my SEP ? $16,728 or $5,208? Thanks to All.
