The S-corp would contribute the $27,250 and it would be a "Benefits" expense to the S-Corp which would reduce the S-Corp's income and thus reduce your share of the income on your Schedule K-1. Any SEP contribution does not get entered on your personal return anywhere.
Yes, you need to consider the additional $20 from the other plan as part of your annual maximum because these maximum contributions are by the person, not the plan. So, the combined total of $27,270 is well under the $61,000 maximum so you will be all good!
The article you are referencing is referring to the Section 199A Qualified Business Income deduction and has nothing to do with any retirement contributions either. If your Schedule K-1 from your S-Corp has a code V reference in box 20, you will also have a Statement A (or other identified statement referencing QBI or Section 199A) with your Schedule K-1 that TurboTax will prompt you to enter the pertinent information through the K-1 entry interview.
@cstalker
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