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Get your taxes done using TurboTax
Yes, I absolutely agree. TT should 'know' that my wife had a Roth 401(k) because it's on her W2.
But, the very first question under in the section called (Wages&Income>BusinessDeductionsAndCredits>SelfEmployedRetirementPlans) is"Did you or your Wife contribute to Individual or Roth 401(k) ?" I suspect it does that because there are limits to total contributions that a family can make. So, I say "yes" and enter the amount. Then, I say "maximize" my SEP contribution. Fine so far.
But, the final result of the SEP "interview" in this section is a very murky conclusion regarding how much I should contribute to my SEP. Two different numbers are given on two different concluding pages.
Thanks for taking a shot at this.
‎July 6, 2020
3:41 AM