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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?
March 8, 2021
1:56 PM