The Deluxe desktop edition supports Schedule K-1, Schedule C and Schedule SE and self-employed retirement contributions to a solo 401(k), SEP, SIMPLE, Keogh or Roth 401(k). You need to enter self-employment income before being able to enter a self-employed retirement plan. Schedule SE is completed by the program after entry of the self-employed income and expenses if there is a net profit. The Deluxe desktop software will recommend that you upgrade to the Home & Business edition when entering self-employment. This is a recommendation only, Not a requirement.
To enter a Schedule K-1 -
- Click on Federal Taxes (Personal using Home and Business)
- Click on Wages and Income (Personal Income using Home and Business)
- Click on I'll choose what I work on (if shown)
- Scroll down to Business Items (Business Investment and Estate/Trust Income using Home and Business)
- On Schedule K-1, Q, click on the start or update button
Or enter k-1 in the Search/Find box located in the upper right of the program screen. Click on Jump to k-1
To enter self-employment income and expenses -
- Click on Federal Taxes (Personal using Home and Business)
- Click on Wages and Income (Personal Income using Home and Business)
- Click on I'll choose what I work on (if shown)
- Scroll down to Business Items (Business Investment and Estate/Trust Income using Home and Business)
- On Business Income and Expenses (Sch C), click on the start or update button
Or enter schedule c in the Search/Find box located in the upper right of the program screen. Click on Jump to schedule c
To enter a solo 401(k), SEP, SIMPLE, Keogh or Roth 401(k) -
Enter self-employed retirement in the Search/Find box located in the upper right of the program screen. Click on Jump to self-employed retirement
