charsmith20
Returning Member

Deductions & credits

Thanks Kathryn.  I've double checked the SEP contribution calculation and I am below the 20% max ($7,000 contribution against $36,700 business income as seen on Schedule 1 line 3).  In TurboTax, line 15 on Schedule 1 shows "$0" although I have input the $7,000 contribution in the program.  

 

Is there a glitch in TurboTax or am I misunderstanding how SEP contributions work?