KathrynG3
Expert Alumni

Deductions & credits

To explain why the SEP-IRA contribution amount is not showing on Schedule 1 Line 15, be sure you are meeting the requirements and within the allowable limits.

 

For more information, see IRS: SEP Plan FAQs - Contributions which states in part:

The most you can deduct on your business’s tax return for contributions to your employees’ SEP-IRAs is the lesser of your contributions or 25% of compensation.

 

Compensation considered for each employee is limited and subject to annual cost-of-living adjustments).

 

If you are self-employed and contribute to your own SEP-IRA, there is a special computation to figure the maximum deduction.

 

For more information, see: Where do I enter my SEP IRA contributions?